Honesty and Integrity: Binder and Associates (360) 573-8114
Appraising is, by and large, a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we are bound by an ethical code.
As appraisers our chief responsibility is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you desire a copy of the appraisal document, you should get it from your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, attaining and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Binder and Associates (360) 573-8114, we take these ethical responsibilities very to heart.
Binder and Associates (360) 573-8114 has worked hard for its reputation for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can sometimes have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of 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 job.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - at Binder and Associates (360) 573-8114 you can rest assured that we abide by that rule.
We meet or beat the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to 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 most important rule, because it would invite appraisal fraud since raising the value of the home would inflate the fee. We don't do that. Other unethical practices may be defined 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 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," as well as other situations. We diligently 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 order an appraisal from Binder and Associates (360) 573-8114 we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.