For honest and ethical appraisals, count on APPRAISAL EXPERTS, LLC
We consider our what we do a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have many obligations as appraisers but first and foremost we answer to our clients. Normally, for a regular 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 want to review an appraisal report, you should request it from your lender. Other responsibilities also include, accurate sums appropriate to the nature of the report, attaining and sustaining an appropriate 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 an established reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will regularly be required to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else APPRAISAL EXPERTS, LLC makes a part of their standard routine.
We demand the highest ethical standards possible from ourselves. Doing assignments on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would invite fraudulent practices since raising the value of the home would inflate the their paycheck. We don't do that. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value.
When you order an appraisal from APPRAISAL EXPERTS, LLC 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.