For honest and ethical appraisals, rely on Appraisal Options, Inc.
We think of our business as a profession. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age 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.
As appraisers our chief responsibility is to his or her client. Generally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you desire to review the appraisal document, you should get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Appraisal Options, Inc..
Appraisal Options, Inc. has worked hard for its reputation for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at Appraisal Options, Inc. you can rest assured that we adhere to that rule.
Appraisal Options, Inc. holds itself to the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. Working on orders that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since increasing the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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 diligently follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.
As soon as you engage Appraisal Options, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.