Economic Appraisers Inc maintains the highest professional ethics
By and large, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.
We have many obligations as appraisers but our main duty is to our clients. Generally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want a copy of the appraisal document, you generally have to obtain it from your lender. Other responsibilities also include, accurate sums appropriate to the nature of the report, attaining and maintaining 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 seriously.
Economic Appraisers Inc has an established track record for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will frequently be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else Economic Appraisers Inc takes very seriously.
We meet or beat the industry standards and mandates set in place for professional behavior. 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 don't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) 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," "the amount of a value opinion," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are working hard 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, honest service.