For honest and ethical appraisals, count on George KH Lau & Assoc. Inc

We think of what we do as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

As appraisers our main responsibility is to their client. More often than not, 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 desire to obtain a copy of an appraisal report, you should request it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at George KH Lau & Assoc. Inc, we take these ethical responsibilities very seriously.

Appraisers can often have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else George KH Lau & Assoc. Inc diligently adheres to.

We require the highest professional integrity possible from ourselves. Doing orders on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since increasing the estimate of the home would raise the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics 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 rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

When you order an appraisal from George KH Lau & Assoc. 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.