Price Appraisals & Realty, LLC maintains the highest professional ethics
We think of what we do as a profession. 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 certainly be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a great deal of obligations as appraisers but our primary duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you desire to review an appraisal report, you generally have to get it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, acquiring and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Price Appraisals & Realty, LLC.
Price Appraisals & Realty, LLC has an established reputation for performing appraisals with the highest of ethics. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll is only 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.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - at Price Appraisals & Realty, LLC you can rest assured that we stick to that rule.
When working on an appraisal, we follow the highest ethical standards possible. We don't 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 invite fraudulent practices since raising the value of the home would increase the their paycheck. We set ourselves to a higher standard. Other improper 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 diligently follow these rules to the letter which means you can be assured we are doing everything we can to provide an unbiased determination of the home or property value.
With Price Appraisals & Realty, LLC, you won't have any doubts that you're receiving 100 percent ethical, honest service.