For honest and ethical appraisals, count on Appraisal Associates, LLC
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we have a strict ethical code.
We have quite a few obligations as appraisers but above everything we answer to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to review the appraisal document, you normally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Appraisal Associates, LLC, we take these ethical responsibilities very seriously.
Appraisal Associates, LLC has worked hard for its reputation for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers may sometimes have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Appraisal Associates, LLC diligently adheres to.
We require the highest professional integrity possible from ourselves. Doing orders on contingency fees is not something we can consider That is, we are not able to 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 appraisal fraud since raising the value of the home would inflate the fee. We don't do that. Other unprofessional practices may be defined by state law or professional organizations to which an 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 assured we are working hard to objectively determine the home or property value.
With Appraisal Associates, LLC, you won't have any doubts that you're getting 100 percent ethical, honest service.