For honest and ethical appraisals, trust Culpepper & Associates

Appraising is, by and large, a long term career. 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 certainly be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.

An appraiser's chief responsibility is to his or her client. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you want a copy of an appraisal report, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Culpepper & Associates, we take these ethical responsibilities very to heart.

Appraisers may often have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Culpepper & Associates takes very seriously.

Culpepper & Associates holds itself to the industry standards and rules set in place for professional behavior. We refuse to accept anything less from ourselves. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. 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 unethical behavior 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 assured we are going above and beyond to objectively determine the home or property value.

When you engage Culpepper & Associates 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.