Appraisal Options, Inc. maintains the highest professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming 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 called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
For an appraiser the chief obligation is to their client. Normally, 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 want a copy of an appraisal report, you should request it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the assignment, attaining and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Appraisal Options, Inc..
Appraisal Options, Inc. has an established track record for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers will frequently be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - at Appraisal Options, Inc. you can rest assured that we abide by that rule.
We meet or beat the industry standards and rules set in place for ethics. We won't accept anything less from ourselves. Doing orders on contingency fees is not something we can consider That is, we can't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest taboo, 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 established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 going above and beyond to provide an unbiased determination of the home or property value.
As soon as you order an appraisal from Appraisal Options, Inc. 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.