For honest and ethical appraisals, count on Edward Helland

We think of our job as a profession. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

For an appraiser the chief responsibility is to his or her client. Most of the time, 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 desire to obtain a copy of an appraisal report, you generally have to obtain it from your lender. Other responsibilities also include, accurate figures appropriate to the nature of the assignment, reaching and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Edward Helland, we take these ethical responsibilities very seriously.

Appraisers will regularly need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - at Edward Helland you can rest assured that we abide by that rule.

We only perform to 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 get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other improper 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 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 confident we are going above and beyond to objectively determine the home or property value.

With Edward Helland, you can be assured of 100 percent ethical, professional service.