For honest and ethical appraisals, rely on Rasmussen Appraisal LLC

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. As with any profession we are bound by an ethical code.

As appraisers our primary obligation is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require to review the appraisal document, you normally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Rasmussen Appraisal LLC, we take these ethical responsibilities very seriously.

Appraisers can also have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else Rasmussen Appraisal LLC makes a part of their standard routine.

Rasmussen Appraisal LLC holds itself to the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee 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 invite appraisal fraud since raising the estimate of the home would increase the their paycheck. We set ourselves to a higher standard. 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," as well as other situations. We follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.

When you engage Rasmussen Appraisal 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.