Borden Tolley Appraisal maintains the utmost professional ethics

We consider our what we do a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

We have many obligations as appraisers but our main duty is to our clients. More often than not, in residential practice, 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 would like a copy of the appraisal document, you generally have to obtain it through your lender. Other responsibilities also include, accurate sums appropriate to the nature of the report, acquiring and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Borden Tolley Appraisal, we take these ethical responsibilities very seriously.

Appraisers may frequently have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - something else Borden Tolley Appraisal makes a part of their standard routine.

Borden Tolley Appraisal holds itself to the industry standards and rules set in place for ethics. We refuse to 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 payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite fraudulent practices since increasing the estimate of the home would raise the fee. 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 a violation in ethics 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.

When you engage Borden Tolley Appraisal we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.