For honest and ethical appraisals, trust Appraisal Network, Corp.
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we are bound by an ethical code.
As appraisers our chief responsibility is to their client. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to review an appraisal report, you should get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Appraisal Network, Corp..
Appraisal Network, Corp. has an established track record for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers may also have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is limited to those third 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 clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at Appraisal Network, Corp. you can rest assured that we stick to that rule.
While working on an appraisal, we follow the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we are not able to 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 probably the appraisal professions biggest taboo, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional 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 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 follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
When you engage Appraisal Network, Corp. 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.