For honest and ethical appraisals, rely on A. M. Appraisals
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
As appraisers our primary responsibility is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want a copy of the appraisal document, you normally have to request it through your lender. Other obligations also include, accurate sums appropriate to the nature of the assignment, attaining and keeping a respectable 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 competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can regularly have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical duties 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 adhere to that rule.
When busy with an appraisal, we follow the highest ethical standards possible. Working on orders that contingency fees is not something we can consider 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 invite appraisal fraud since raising the estimate of the home would inflate the fee. We don't do that. Other improper practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," 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 objectively determine the home or property value.
When you engage A. M. Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.
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