Honesty and Integrity: Efrain Tirado Appraisal Group

Appraising is generally a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have a great deal of responsibilities as appraisers but our main duty is to our clients. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. 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 review the appraisal document, you generally have to get it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, acquiring and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Efrain Tirado Appraisal Group, we take these ethical responsibilities very to heart.

Appraisers can regularly have fiduciary obligations to third parties, including homeowners, sellers and buyers, 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 things in the framework of the order.

Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - something else Efrain Tirado Appraisal Group diligently adheres to.

We demand the highest professional integrity possible from ourselves. We don't 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. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We don't do that. Other unethical 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," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.

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