Jeff Ulibarri Appraising Inc. maintains the highest professional ethics

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

An appraiser's primary responsibility is to their client. Most of the time, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you want a copy of an appraisal report, you generally have to get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, acquiring and keeping a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Jeff Ulibarri Appraising Inc., we take these ethical responsibilities very to heart.

Appraisers can frequently have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else Jeff Ulibarri Appraising Inc. makes a part of their standard routine.

When creating reports, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. 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 invite fraudulent practices since increasing the estimate of the home would up the fee. We set ourselves to a higher standard. 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 defines 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 assured we are working hard to objectively determine the home or property value.

When you engage Jeff Ulibarri Appraising Inc. 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.