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 become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have quite a few responsibilities as appraisers but first and foremost we answer to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Associate Appraisers of America, we take these ethical responsibilities very to heart.
Associate Appraisers of America has worked hard for its track record for providing competent and ethically superior appraisals. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - something else Associate Appraisers of America makes a part of their standard routine.
We require the highest professional integrity possible from ourselves. Doing assignments on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. 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 paycheck. We don't do that. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 going above and beyond to objectively determine the home or property value.
With Associate Appraisers of America, you can be assured of 100 percent ethical, professional service.