Richey Appraisals provides honest and ethical appraisals for Bowie County

Richey Appraisals upholds the highest professional ethics

Appraising is typically a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.

We have many responsibilities as appraisers, but our main duty is to our clients. Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client. Certain elements pertaining to an assignment are to be shared with the appraiser's client. So, as a homeowner, if you would like to obtain a copy of the appraisal document, you generally have to obtain it from your lender and not the appraiser.

Other obligations include accurate figures appropriate to the scope of the assignment, acquiring and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Richey Appraisals, we take these ethical responsibilities very to heart.

Appraisers may regularly have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary role is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.


	Richey Appraisals has worked hard for its reputation for providing competent and ethically superior appraisals. Contact us today to learn more.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - something else Richey Appraisals makes a part of their standard routine.

We require the highest professional integrity possible from ourselves. Accepting orders where our fee is dependent on our value conclusion is not something we can consider. In other words, we don't agree to do an appraisal report and collect the fee only if the loan closes. Anyone should be able to see that inflating a value to achieve essentially a bigger paycheck is unethical! We set ourselves to a higher standard.

Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly 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", or "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 working hard to objectively determine the home or property value.

When you engage Richey Appraisals, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for.