Honesty and Integrity: Colorado Mountain Products & Services

Typically, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

We have a great deal of responsibilities as appraisers but our primary duty is to our clients. Generally, in residential practice, 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 desire to obtain a copy of the appraisal document, you normally have to obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, acquiring and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Colorado Mountain Products & Services, 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. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - something else Colorado Mountain Products & Services 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 the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies that the 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," as well as other situations. We diligently follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.

With Colorado Mountain Products & Services, you can be assured of 100 percent ethical, professional service.