For honest and ethical appraisals, trust Associate Appraisers of America
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 in this day and age that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have a great deal of responsibilities as appraisers but first and foremost we answer to our clients. More often than not, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you want to obtain a copy of the appraisal document, you should request it from your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the assignment, attaining and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Associate Appraisers of America, we take these ethical responsibilities very to heart.
Associate Appraisers of America has an established track record for completing competent and ethically superior appraisals. To learn more Contact us
Appraisers can often have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Associate Appraisers of America you can rest assured that we stick to that rule.
We demand the highest professional integrity possible from ourselves. Working on assignments that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite appraisal fraud since increasing the value of the home would increase the fee. We don't do that. Other improper practices may be established 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 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," in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.
As soon as you order an appraisal from Associate Appraisers of America we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.