Honesty and Integrity: APPRAISAL EXPERTS, LLC
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many responsibilities as appraisers but our chief duty is to our clients. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to obtain a copy of the appraisal document, you generally have to get it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, acquiring and maintaining a certain 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 to heart.
APPRAISAL EXPERTS, LLC has worked hard for its track record for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will regularly be required to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - at APPRAISAL EXPERTS, LLC you can rest assured that we stick to that rule.
When creating reports, we follow the highest ethical standards possible. 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 can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite fraudulent practices since increasing the estimate of the home would up the fee. We don't do that. Other unethical practices may be defined by state law or professional societies 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," as well as other situations. We follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.
With APPRAISAL EXPERTS, LLC, you won't have any doubts that you're receiving 100 percent ethical, honest service.