For honest and ethical appraisals, count on Race Appraisal Services, LLC

We consider our our job a profession. 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 certainly be considered a profession rather than a trade. As with any profession we have a strict ethical code.

As appraisers our chief responsibility is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to obtain a copy of the appraisal document, you generally have to get it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is is what we do everyday at Race Appraisal Services, LLC.

Appraisers may also have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - at Race Appraisal Services, LLC you can rest assured that we abide by that rule.

Race Appraisal Services, LLC holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite appraisal fraud since increasing the value of the home would up 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 defines a violation in ethics as accepting 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 be at ease knowing we are going above and beyond to objectively determine the home or property value.

With Race Appraisal Services, LLC, you can be assured of 100 percent ethical, professional service.