 Elite Appraisal Services maintains the utmost professional ethicsGenerally, appraising is a long term career. 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 ethical considerations.
We have quite a few obligations as appraisers, but our chief duty is to our clients.
Generally, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence.
Subsequently, appraisers have certain duties of confidentiality to their clients, plus many rules and regulations to which we must adhere. As
a homeowner, if you would like to review an appraisal report, you normally have to request it from your lender instead of the appraiser.
Appraisers will frequently be required to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - something else Elite Appraisal Services makes a part of their standard routine. We require the highest ethical standards possible from ourselves. Working on orders where our fee is dependent on our value conclusion is never an option. That is, we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's a definite conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value. When you request an appraisal from Elite Appraisal Services, we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for. |
|||||||||
