Prudhomme Real Estate & Appraisal Group maintains the highest professional ethics

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

For an appraiser the main responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require to review an appraisal report, you normally have to obtain it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the assignment, attaining and keeping 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 standard operating procedure for us at Prudhomme Real Estate & Appraisal Group.

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

Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - something else Prudhomme Real Estate & Appraisal Group makes a part of their standard routine.

When creating reports, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. 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 most important rule, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 rest easy knowing we are working hard to objectively determine the home or property value.

When you order an appraisal from Prudhomme Real Estate & Appraisal Group 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.