Honesty and Integrity: Appraisal Options, Inc.
Generally, appraising a long term career. The rigors of becoming 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 dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
As appraisers our primary obligation is to their client. More often than not, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you want a copy of the appraisal document, you generally have to request it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Appraisal Options, Inc., we take these ethical responsibilities very seriously.
Appraisal Options, Inc. has worked hard for its track record for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers will sometimes need to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Appraisal Options, Inc. you can rest assured that we adhere to that rule.
We demand the highest professional integrity possible from ourselves. Working on orders that contingency fees is never an option. That is, we don't 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 perhaps the appraisal professions biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations that the 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 be assured we are working hard to objectively determine the home or property value.
With Appraisal Options, Inc., you won't have any doubts that you're getting 100 percent ethical, professional service.