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 For honest and ethical appraisals, trust The Appraisal Shop, LLC
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 called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have a great deal of obligations as appraisers, but above everything we answer to our clients.
Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence.
Thereon, appraisers have certain duties of confidentiality to their clients, plus many rules and regulations that must be followed. As
a homeowner, if you desire to obtain a copy of the appraisal document, you generally should request it from your lender.
Other obligations include accurate figures appropriate to the nature of the report, acquiring and maintaining a particular level of competency and education, and naturally, the appraiser must bear a professional demeanor. Here at The Appraisal Shop, LLC, we take these ethical responsibilities very to heart.
Appraisers will sometimes need to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is limited 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.
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The Appraisal Shop, LLC has an established reputation for providing competent and ethically superior appraisals. To learn more, contact us. |
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Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - at The Appraisal Shop, LLC you can rest assured that we stick to that rule.
When working on an appraisal, we follow the highest ethical standards possible.
Accepting orders based on contingency fees is never an option.
In other words, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion.
Anyone should be able to see that inflating a value to achieve what amounts to a bigger fee is unethical!
We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice 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", or "the amount of a value opinion" as well as other situations. We diligently follow these rules to the letter which means you can be confident we are doing everything we can to get you an accurate home or property value.
When you engage The Appraisal Shop, LLC, we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for.
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