PLM Appraisals upholds the highest professional ethics

Appraising is generally a long term career. 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 definitely be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

For an appraiser the chief responsibility is to his or her client. Most of the time, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want to obtain a copy of the appraisal document, you should request it through your lender. Other responsibilities also include, accurate sums appropriate to the scope of the assignment, attaining and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at PLM Appraisals.

PLM Appraisals provides honest and ethical appraisals for Norfolk City County

PLM Appraisals has an established reputation for performing appraisals with the highest of ethics. To learn more Contact us

Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - something else PLM Appraisals makes a part of their standard routine.

We meet or beat the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Working on assignments that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would increase the their paycheck. We don't do that. Other improper practices may be defined by state law or professional organizations 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," as well as other situations. We follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.

With PLM Appraisals, you won't have any doubts that you're getting 100 percent ethical, honest service.