For honest and ethical appraisals, count on Economic Appraisers Inc
Appraising is a profession, and appraisers are professionals. 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 definitely be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have a great deal of obligations as appraisers but our main duty is to our clients. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require a copy of the appraisal document, you normally have to request it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Economic Appraisers Inc, we take these ethical responsibilities very to heart.
Economic Appraisers Inc has worked hard for its track record for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will frequently need to consider the interests of third parties, including homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty 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 order.
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 diligently adheres to.
We demand the highest ethical standards possible from ourselves. Working on assignments that contingency fees is never an option. That is, we can'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 industries most important rule, because it would invite appraisal fraud since increasing the value of the home would up the 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 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," 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 getting 100 percent ethical, professional service.