![]() Absolute Appraisals Inc. upholds the utmost professional ethicsGenerally, appraising is a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we are bound by an ethical code.
The appraiser's main obligation is to their client.
More often than not, 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 are typically restricted to only disclosing information to their clients, so as
a homeowner, if you desire a copy of an appraisal report, you generally have to obtain it from your lender and not the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Absolute Appraisals Inc. diligently adheres to. We meet or exceed the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. Accepting orders based on contingency fees is never an option. In other words, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that inflating a value to achieve essentially a bigger paycheck is unethical! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly 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", or "the amount of a value opinion" in addition to other situations We 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. As soon as you engage Absolute Appraisals Inc., we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for. |