Honesty and Integrity: Dustin Arnold (843) 263-1285

Appraising is a profession, and appraisers are professionals. 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 certainly be considered a profession as opposed to a trade. As with any profession we are bound by ethical considerations.

We have quite a few obligations as appraisers but our main duty is to our clients. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to obtain a copy of the appraisal document, you generally have to get it through your lender. Other responsibilities also include, accurate figures appropriate to the nature of the report, acquiring and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Dustin Arnold (843) 263-1285.

Appraisers will sometimes be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - something else Dustin Arnold (843) 263-1285 diligently adheres to.

We require the highest ethical standards possible from ourselves. Doing assignments on contingency fees is not something we can consider That is, we don'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 industries most important rule, because it would invite fraudulent practices since raising the estimate of the home would up the fee. We don't do that. Other unethical practices may be established by state law or professional societies to which an 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 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 Dustin Arnold (843) 263-1285 we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.