1 Hour Appraisal upholds the utmost professional ethics

We consider our our job a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

We have a great deal of responsibilities as appraisers but our chief duty is to our clients. Normally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require to review an appraisal report, you should get it from your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the report, attaining and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at 1 Hour Appraisal, we take these ethical responsibilities very seriously.

Appraisers can also have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. 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 assignment.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at 1 Hour Appraisal you can rest assured that we stick to that rule.

1 Hour Appraisal holds itself to the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we can't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the value of the home would increase the their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics as the acceptance 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," as well as other situations. We follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.

As soon as you order an appraisal from 1 Hour Appraisal we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.