Bounds Appraisal Service maintains the highest professional ethics

We consider our what we do 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 these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we are bound by ethical considerations.

An appraiser's primary responsibility is to their client. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want a copy of the appraisal document, you generally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Bounds Appraisal Service.

Appraisers may often have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Bounds Appraisal Service makes a part of their standard routine.

Bounds Appraisal Service holds itself to the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Working on orders that contingency fees is never an option. That is, we can't 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 set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 diligently follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.

With Bounds Appraisal Service, you can be assured of 100 percent ethical, honest service.