Salt Lake Appraising Company maintains the highest professional ethics

We consider our what we do a profession. 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 certainly be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

We have many responsibilities as appraisers but our main duty is to our clients. Normally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you would like to review the appraisal document, you normally have to obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, acquiring and sustaining 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 Salt Lake Appraising Company.

Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - at Salt Lake Appraising Company you can rest assured that we adhere to that rule.

Salt Lake Appraising Company holds itself to the industry standards and rules set in place for ethics. We refuse to accept anything less 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 collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We don't do that. Other unethical 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 at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.

With Salt Lake Appraising Company, you can be assured of 100 percent ethical, professional service.