For honest and ethical appraisals, rely on Cooper Associates

We think of what we do as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

We have a great deal of obligations as appraisers but our chief duty is to our clients. Typically, for a normal residential appraisal, 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 want a copy of the appraisal document, you should get it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the assignment, attaining and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Cooper Associates, we take these ethical responsibilities very to heart.

In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility 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.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - something else Cooper Associates makes a part of their standard routine.

We only perform to the highest ethical standards possible. We never do assignments on contingency fees. 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 professions most important rule, because it would invite fraudulent practices since increasing the value of the home would inflate the fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies to which an 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 confident we are going above and beyond to objectively determine the home or property value.

As soon as you engage Cooper Associates we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.