For honest and ethical appraisals, count on Binder and Associates (360) 573-8114
By and large, appraising a long term career. Requirements to become 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 certainly be dubbed a profession as opposed to a trade. As with any profession we are bound by an ethical code.
We have a great deal of responsibilities as appraisers but above everything we answer to our clients. Typically, for a normal 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 require a copy of an appraisal report, you should get it from your lender. Other responsibilities also include, accurate figures appropriate to the nature of the assignment, acquiring and maintaining a respectable 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 track record for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical standards 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 Binder and Associates (360) 573-8114 takes very seriously.
We require the highest ethical standards possible 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 most important rule, because it would invite appraisal fraud since raising the estimate of the home would up the fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies 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 be confident we are working hard to objectively determine the home or property value.
With Binder and Associates (360) 573-8114, you can be assured of 100 percent ethical, honest service.