Honesty and Integrity: Fidelity Appraisals, LLC

Typically, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.

We have many obligations as appraisers but our main duty is to our clients. Normally, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you would like a copy of an appraisal report, you should request it through your lender. Other responsibilities also include, accurate sums appropriate to the nature of the assignment, acquiring and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is just normal course of business for us at Fidelity Appraisals, LLC.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.

There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - at Fidelity Appraisals, LLC you can rest assured that we adhere to that rule.

We only perform to the highest ethical standards possible. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional organizations 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 going above and beyond to provide an unbiased determination of the home or property value.

With Fidelity Appraisals, LLC, you can be assured of 100 percent ethical, honest service.