Accurate Real Estate Appraisal Reports maintains the utmost professional ethicsAppraising is generally a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
The appraiser's primary responsibility is to their client.
Typically, 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 hired in order to maintain independence.
Consequently, appraisers have certain duties of confidentiality to their clients, plus strict rules and regulations controlling with whom we share information. So, as
a homeowner, if you desire to review the appraisal document, you normally have to obtain it via your lender.
Appraisers will regularly be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary role is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - at Accurate Real Estate Appraisal Reports you can rest assured that we abide by that rule.
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 an obvious conflict of interest if an appraiser can report a greater value and then get paid more money! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice also states a violation in ethics 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 confident we are going above and beyond to objectively determine the home or property value.
As soon as you engage Accurate Real Estate Appraisal Reports, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for.