For honest and ethical appraisals, count on Associate Appraisers of America
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more 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 as opposed to a trade. In our field, 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 normal 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 desire to review an appraisal report, you should obtain it through your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, attaining and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is standard operating procedure for us at Associate Appraisers of America.
Associate Appraisers of America has worked hard for its reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will often be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - at Associate Appraisers of America you can rest assured that we adhere to that rule.
We meet or beat the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the value of the home would raise the fee. We don't do that. Other unprofessional practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics 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 diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
With Associate Appraisers of America, you can be assured of 100 percent ethical, honest service.