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Honesty and Integrity: The August Group Inc.

We consider our our business a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we are bound by an ethical code.

For an appraiser the main responsibility is to his or her client. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like a copy of the appraisal document, you should request it from your lender. Other obligations also include, accurate figures appropriate to the nature of the report, attaining and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at The August Group Inc..

The August Group Inc. provides honest and ethical appraisals for Saint Louis County

The August Group Inc. has an established track record for producing competent and ethically superior appraisals. Contact us today to learn more.

Appraisers will regularly need to consider the interests of third parties, including homeowners, buyers and sellers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - something else The August Group Inc. makes a part of their standard routine.

The August Group Inc. holds itself to the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we can't 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 probably the appraisal industries 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 unprofessional practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics as the acceptance 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 diligently follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

As soon as you order an appraisal from The August Group 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.