Honesty and Integrity: Price Appraisals & Realty, LLC
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
As appraisers our main responsibility is to their client. Most of the time, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to review an appraisal report, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is is what we do everyday at Price Appraisals & Realty, LLC.
Price Appraisals & Realty, LLC has an established reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will often be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - something else Price Appraisals & Realty, LLC makes a part of their standard routine.
We only perform to the highest ethical standards possible. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 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.
As soon as you engage Price Appraisals & Realty, 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.