For honest and ethical appraisals, trust A. M. Appraisals
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
As appraisers our main responsibility is to their client. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like a copy of the appraisal document, you generally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, acquiring and maintaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at A. M. Appraisals, we take these ethical responsibilities very seriously.
A. M. Appraisals has an established reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers may also have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else A. M. Appraisals takes very seriously.
A. M. Appraisals holds itself to the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. 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 biggest no-no, because it would invite fraudulent practices since raising the value of the home would raise the their paycheck. 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 diligently 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.
When you request an appraisal from A. M. Appraisals we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.
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