Honesty and Integrity: The Appraisal Service
We consider our what we do a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.
We have a great deal of responsibilities as appraisers but first and foremost we answer to our clients. More often than not, 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 require to obtain a copy of the appraisal document, you generally have to request it from your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the report, attaining and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at The Appraisal Service, we take these ethical responsibilities very to heart.
The Appraisal Service has an established track record for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. 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 assignment.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - at The Appraisal Service you can rest assured that we stick to that rule.
When working on an order, we follow the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite appraisal fraud since increasing the estimate of the home would increase the fee. 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 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 diligently follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.
With The Appraisal Service, you won't have any doubts that you're getting 100 percent ethical, honest service.