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We think of our business as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
For an appraiser the chief obligation is to their client. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want a copy of an appraisal report, you normally have to get it through your lender. Other obligations also include, accurate figures appropriate to the nature of the report, acquiring and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at , we take these ethical responsibilities very to heart.
has worked hard for its track record for providing appraisals with the highest of ethics. To learn more Contact us
Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at you can rest assured that we stick to that rule.
We meet or beat the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. We never 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. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite fraudulent practices since increasing the estimate of the home would increase the their paycheck. We don't do that. Other improper 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 unethical behavior 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 working hard to provide an unbiased determination of the home or property value.
As soon as you request an appraisal from we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.