Honesty and Integrity: B & B Valuations, LLC

Typically, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult 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 must follow strict ethical considerations.

As appraisers our primary obligation is to their client. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you desire a copy of the appraisal document, you should obtain it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the assignment, reaching and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at B & B Valuations, LLC, we take these ethical responsibilities very to heart.

Appraisers can frequently have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - at B & B Valuations, LLC you can rest assured that we abide by that rule.

We require the highest ethical standards possible from ourselves. Doing assignments 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 don't do assignments on percentage fees. That is probably the appraisal industries biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.

With B & B Valuations, LLC, you won't have any doubts that you're getting 100 percent ethical, professional service.