For honest and ethical appraisals, rely on FORREST & ASSOCIATES

We think of our job as a profession. Requirements to become 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 unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

We have a lot of obligations as appraisers but above everything we answer to our clients. More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to obtain a copy of an appraisal report, you generally have to obtain it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at FORREST & ASSOCIATES.

Appraisers will regularly be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility 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 standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - at FORREST & ASSOCIATES you can rest assured that we abide by that rule.

While working on an order, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since increasing the value of the home would up the fee. We don't do that. Other unethical practices may be established by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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," as well as other situations. We follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.

When you engage FORREST & ASSOCIATES 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.