Honesty and Integrity: Reliable Appraisals Inc.
We think of what we do as 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 in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many obligations as appraisers but above everything we answer to our clients. Generally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you want a copy of the appraisal document, you generally have to get it from your lender. Other responsibilities also include, accurate sums appropriate to the nature of the report, acquiring and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Reliable Appraisals Inc., we take these ethical responsibilities very seriously.
Reliable Appraisals Inc. has an established track record for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Reliable Appraisals Inc. 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 can't accept anything less from ourselves. We never do assignments on contingency fees. That is, we are not able to 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 industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. 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 defines 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 rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Reliable Appraisals Inc., you won't have any doubts that you're getting 100 percent ethical, honest service.