Residential Appraisal Service, LLC maintains the highest professional ethics
We consider our our business a profession. 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 unquestionably be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
The appraiser's chief responsibility is to their client. Typically, in residential practice, 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 want a copy of an appraisal report, you should request it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Residential Appraisal Service, LLC, we take these ethical responsibilities very to heart.
Residential Appraisal Service, LLC has an established reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - at Residential Appraisal Service, LLC you can rest assured that we adhere to that rule.
We demand the highest ethical standards possible from ourselves. Working on orders that contingency fees is never an option. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do 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 don't do that. Other improper practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 working hard to provide an unbiased determination of the home or property value.
With Residential Appraisal Service, LLC, you can be assured of 100 percent ethical, professional service.