Honesty and Integrity: Ruggles Appraisal Services, Inc.

We consider our our job a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why 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 have a strict ethical code.

The appraiser's chief responsibility is to their client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to obtain a copy of the appraisal document, you should request it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Ruggles Appraisal Services, Inc., we take these ethical responsibilities very seriously.

Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else Ruggles Appraisal Services, Inc. takes very seriously.

Ruggles Appraisal Services, Inc. holds itself to the industry standards and rules set in place for ethics. We can't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," 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.

When you engage Ruggles Appraisal Services, Inc. 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.