Honesty and Integrity: KSDJ, Inc.

We consider our our job a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age 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.

We have a lot of responsibilities as appraisers but above everything we answer to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you want a copy of the appraisal document, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at KSDJ, Inc., we take these ethical responsibilities very to heart.

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

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - something else KSDJ, Inc. takes very seriously.

We only perform to the highest ethical standards possible. We don't 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. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. 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 unethical behavior 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," as well as other situations. We 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.

When you order an appraisal from KSDJ, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.