For honest and ethical appraisals, count on APPRAISAL EXPERTS, LLC
We think of our job 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 dubbed a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
An appraiser's chief responsibility is to his or her client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require a copy of an appraisal report, you normally have to obtain it from your lender. Other obligations also include, accurate calculations appropriate to the parameters of the assignment, reaching and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at APPRAISAL EXPERTS, LLC, we take these ethical responsibilities very seriously.
APPRAISAL EXPERTS, LLC has worked hard for its track record for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can also have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else APPRAISAL EXPERTS, LLC diligently adheres to.
APPRAISAL EXPERTS, LLC holds itself to the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do 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 inflate the fee. We don't do that. Other unprofessional practices may be established by state law or professional organizations 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," as well as other situations. We follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.
With APPRAISAL EXPERTS, LLC, you can be assured of 100 percent ethical, honest service.