Honesty and Integrity: TD Appraisal LLC

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have quite a few responsibilities as appraisers but our primary duty is to our clients. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to obtain a copy of an appraisal report, you normally have to obtain it from your lender. Other responsibilities also include, accurate sums appropriate to the nature of the report, attaining and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at TD Appraisal LLC, we take these ethical responsibilities very to heart.

Appraisers will regularly need to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - something else TD Appraisal LLC makes a part of their standard routine.

We require the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we can't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior as accepting of an assignment that is contingent on "the reporting of a pre-determined result (e.g., opinion of value)," "a direction in assignment results that favors the cause of the client," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.

When you engage TD Appraisal LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.