Honesty and Integrity: Blake Lopresto, LLC.

By and large, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

The appraiser's main obligation is to their client. More often than not, 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 would like to review an appraisal report, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Blake Lopresto, LLC., we take these ethical responsibilities very to heart.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - something else Blake Lopresto, LLC. diligently adheres to.

We only perform to the highest ethical standards possible. Doing assignments on contingency fees is not something we can consider That is, we can't 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 invite appraisal fraud since raising the value of the home would raise the fee. We don't do that. Other unprofessional practices may be established by state law or professional organizations 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," 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 Blake Lopresto, LLC. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.