For honest and ethical appraisals, count on Gloria Ostrowski Appraisals, Inc.

We think of our job as a profession. 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 certainly be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have a lot of obligations as appraisers but above everything we answer to our clients. Normally, in residential practice, 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 generally have to request it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Gloria Ostrowski Appraisals, Inc. , we take these ethical responsibilities very seriously.

Appraisers may sometimes have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Gloria Ostrowski Appraisals, Inc. diligently adheres to.

Gloria Ostrowski Appraisals, Inc. holds itself to the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. We never 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 probably the appraisal professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies 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," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.

When you engage Gloria Ostrowski Appraisals, 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.