Honesty and Integrity: Columbus Appraisal Company, LLC

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we have a strict ethical code.

We have many obligations as appraisers but our chief duty is to our clients. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to obtain a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the assignment, attaining and maintaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at Columbus Appraisal Company, LLC.

Appraisers can sometimes have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - something else Columbus Appraisal Company, LLC takes very seriously.

We only perform to the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would invite fraudulent practices since raising the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other improper practices may be defined 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 diligently 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.

As soon as you order an appraisal from Columbus Appraisal Company, 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.