![]() For honest and ethical appraisals, count on a la mode, inc. - tjhliveapprentTypically, appraising is a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have many obligations as appraisers, but our main duty is to our clients.
More often than not, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has contracted in order to maintain independence.
It follows that appraisers are typically restricted to only disclosing their findings to their clients, so as
a homeowner, if you would like to review the appraisal document, you normally have to obtain it via your lender.
Appraisers can also have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at a la mode, inc. - tjhliveapprent you can rest assured that we adhere to that rule. We require the highest ethical standards possible from ourselves. Accepting orders based on contingency fees is never an option. That means we can't 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 fabricating a home's value to achieve a higher fee is unethical! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly describes 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", or "the amount of a value opinion" in addition to 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. As soon as you engage a la mode, inc. - tjhliveapprent, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for. |