Ferguson Appraisal Services, LLC maintains the utmost professional ethics

Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we are bound by an ethical code.

As appraisers our chief responsibility is to their client. Generally, 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 would like to review the appraisal document, you normally have to obtain it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the assignment, acquiring and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Ferguson Appraisal Services, LLC, we take these ethical responsibilities very to heart.

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

Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - something else Ferguson Appraisal Services, LLC makes a part of their standard routine.

Ferguson Appraisal Services, LLC holds itself to the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to 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 biggest no-no, because it would invite fraudulent practices since increasing the estimate of the home would increase the their paycheck. We don't do that. Other improper practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," in addition to other situations We follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value.

With Ferguson Appraisal Services, LLC, you won't have any doubts that you're getting 100 percent ethical, professional service.