Honesty and Integrity: Economic Appraisers Inc
By and large, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
For an appraiser the main obligation is to his or her client. More often than not, in residential practice, 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 desire a copy of an appraisal report, you generally have to get it through your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, reaching and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Economic Appraisers Inc.
Economic Appraisers Inc has worked hard for its track record for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can sometimes have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll is limited to those third 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 whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - something else Economic Appraisers Inc takes very seriously.
We only perform to the highest ethical standards possible. Doing assignments on 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. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "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 doing everything we can to objectively determine the home or property value.
With Economic Appraisers Inc, you won't have any doubts that you're receiving 100 percent ethical, professional service.