Honesty and Integrity: The Terrell Group Appraisal Service (470)529-3288

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

For an appraiser the chief obligation is to their client. Normally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to review an appraisal report, you should get it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at The Terrell Group Appraisal Service (470)529-3288.

Appraisers will sometimes be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - at The Terrell Group Appraisal Service (470)529-3288 you can rest assured that we abide by that rule.

We demand the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid 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 appraisal fraud since raising the estimate of the home would raise the fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies to which an 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 assured we are going above and beyond to objectively determine the home or property value.

As soon as you engage The Terrell Group Appraisal Service (470)529-3288 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.