For honest and ethical appraisals, rely on Leigh B. Pattalochi, Inc.

We think of our business as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

We have a lot of obligations as appraisers but our chief duty is to our clients. Generally, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire a copy of an appraisal report, you should request it from your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the assignment, attaining and maintaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Leigh B. Pattalochi, Inc., we take these ethical responsibilities very to heart.

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

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - something else Leigh B. Pattalochi, Inc. makes a part of their standard routine.

We demand the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 be at ease knowing we are doing everything we can to objectively determine the home or property value.

As soon as you engage Leigh B. Pattalochi, 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.