A. M. Appraisals maintains the utmost professional ethics
We consider our our business a profession. Requirements to become 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 unquestionably be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have a great deal of obligations as appraisers but our chief duty is 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 want to review the appraisal document, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and keeping 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 worked hard for its reputation for providing appraisals with the highest of ethics. To learn more Contact us
Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - at A. M. Appraisals you can rest assured that we stick to that rule.
When working on an assignment, we follow the highest ethical standards possible. 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. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite appraisal fraud since raising the value of the home would increase the their paycheck. We don't do that. Other improper practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 rest easy knowing we are going above and beyond to objectively determine the home or property value.
With A. M. Appraisals, you can be assured of 100 percent ethical, honest service.
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