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 Honesty and Integrity: Appraisals Unlimited,LLC
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have a lot of responsibilities as appraisers, but above everything we answer to our clients.
Most of the time, in residential practice, 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.
Certain matters relating to an assignment are to be shared with the appraiser's client. So, as
a homeowner, if you want a copy of an appraisal report, you normally should get it through your lender and not the appraiser.
Other responsibilities include numerical accuracy depending on the assignment's nature, attaining and keeping a particular level of competency and education, and naturally, the appraiser must bear a professional demeanor. Here at Appraisals Unlimited,LLC, we take these ethical responsibilities very seriously.
Appraisers can often have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
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Appraisals Unlimited,LLC has an established reputation for producing competent and ethically superior appraisals. To learn more, contact us. |
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Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - something else Appraisals Unlimited,LLC makes a part of their standard routine.
While working on an assignment, we follow the highest ethical standards possible.
Doing orders where our fee is dependent on our value conclusion is not something we can consider.
That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing.
Anyone should be able to see that fabricating a property's value to achieve essentially a higher fee is unethical!
We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also describes a violation in ethics 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" in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
When you engage Appraisals Unlimited,LLC, we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for.
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