For honest and ethical appraisals, trust Hemsley Appraisal, LLC

Appraising is, by and large, a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we are bound by an ethical code.

For an appraiser the chief responsibility is to his or her client. Typically, for a normal residential appraisal, 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 require a copy of an appraisal report, you should request it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Hemsley Appraisal, LLC, we take these ethical responsibilities very to heart.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else Hemsley Appraisal, LLC takes very seriously.

When working on an assignment, we follow the highest ethical standards possible. Doing orders on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite fraudulent practices since increasing the estimate of the home would increase the fee. We set ourselves to a higher standard. 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 defines 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," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.

When you request an appraisal from Hemsley Appraisal, LLC we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.