For honest and ethical appraisals, trust JAC LLC.

Appraising is typically a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.

As appraisers our main responsibility is to their client. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to obtain a copy of the appraisal document, you generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at JAC LLC., we take these ethical responsibilities very seriously.

Appraisers will often be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll is only 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 duties that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - something else JAC LLC. takes very seriously.

JAC LLC. holds itself to the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the estimate of the home would increase the fee. We don't do that. Other unethical practices may be established by state law or professional organizations 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," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are doing everything we can to objectively determine the home or property value.

With JAC LLC., you can be assured of 100 percent ethical, professional service.