Appraisal Quality maintains the utmost professional ethicsAppraising is typically a long term career. Requirements to become a licensed appraiser have increased more than ever before. 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 are bound by an ethical code.
We have many obligations as appraisers, but above everything we answer to our clients.
More often than not, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Certain matters pertaining to an assignment are to be shared with the appraiser's client. As
a homeowner, if you desire a copy of an appraisal report, you generally should get it via your lender instead of the appraiser.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - at Appraisal Quality you can rest assured that we abide by that rule.
Appraisal Quality holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Accepting assignments where our fee is dependent on our value conclusion is not something we can consider. That is, we don't agree to do an appraisal report and get paid only if the loan closes. Anyone should be able to see that fabricating a home's value to achieve essentially a bigger fee is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice also describes 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", or "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 Quality, we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for.