Honesty and Integrity: Price Appraisals & Realty, LLC
We consider our our business a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
As appraisers our chief responsibility is to his or her client. Generally, for a standard 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 to review an appraisal report, you should get it through your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, acquiring and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Price Appraisals & Realty, LLC, we take these ethical responsibilities very to heart.
Price Appraisals & Realty, LLC has worked hard for its reputation for performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those third parties who the appraiser knows, 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 clients and others. For example, appraisers must keep their work files for at least five years - at Price Appraisals & Realty, LLC you can rest assured that we abide by that rule.
We require the highest ethical standards possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can'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 industries most important rule, because it would tend to make appraisers up 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 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 diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value.
With Price Appraisals & Realty, LLC, you can be assured of 100 percent ethical, honest service.