Honesty and Integrity: Advantage Appraisal Services, LLC
We think of what we do as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
For an appraiser the chief obligation is to his or her client. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. 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 require a copy of the appraisal document, you normally have to obtain it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the assignment, reaching and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is standard operating procedure for us at Advantage Appraisal Services, LLC.
Advantage Appraisal Services, LLC has worked hard for its track record for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can also have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else Advantage Appraisal Services, LLC makes a part of their standard routine.
Advantage Appraisal Services, LLC holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. We never do assignments on contingency fees. That is, we are not able to 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 industries biggest no-no, because it would invite fraudulent practices since increasing the estimate of the home would raise the fee. We don't do that. Other unprofessional practices may be defined by state law or professional societies 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," as well as other situations. We diligently follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as you engage Advantage Appraisal Services, LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.