For honest and ethical appraisals, trust Pugh Appraisal Services LLC

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can certainly be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

An appraiser's chief obligation is to their client. Generally, for a standard 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 require a copy of an appraisal report, you generally have to request it from your lender. Other obligations also include, accurate sums appropriate to the parameters of the report, acquiring and maintaining an adequate 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 Pugh Appraisal Services LLC.

Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - something else Pugh Appraisal Services LLC diligently adheres to.

Pugh Appraisal Services LLC holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Doing assignments on contingency fees is not something we can consider 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 industries most important rule, because it would invite fraudulent practices since increasing the value of the home would raise the fee. We don't do that. Other unprofessional 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," 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.

As soon as you order an appraisal from Pugh Appraisal Services LLC 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.