Central New Mexico Appraisers Inc. dba Allan Yost & Associates upholds the utmost professional ethics

Appraising is generally a long term career. 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 definitely be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.

As appraisers our main responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you want a copy of an appraisal report, you should obtain it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the assignment, acquiring and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Central New Mexico Appraisers Inc. dba Allan Yost & Associates.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - something else Central New Mexico Appraisers Inc. dba Allan Yost & Associates makes a part of their standard routine.

We only perform to the highest ethical standards possible. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations to which an 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 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.

With Central New Mexico Appraisers Inc. dba Allan Yost & Associates, you can be assured of 100 percent ethical, honest service.