Honesty and Integrity: Advantage Appraisal Services, LLC
Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days 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.
An appraiser's primary responsibility is to his or her client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to review an appraisal report, you normally have to get it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Advantage Appraisal Services, LLC, we take these ethical responsibilities very seriously.
Advantage Appraisal Services, LLC has worked hard for its reputation for performing appraisals with the highest of ethics. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at Advantage Appraisal Services, LLC you can rest assured that we adhere to that rule.
We require the highest ethical standards possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other unethical 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 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.
When you order an appraisal from 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.