For honest and ethical appraisals, trust Appraisal AssociatesAppraising is, by and large, a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have many responsibilities as appraisers, but first and foremost we answer to our clients.
Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that appraisers have certain duties of confidentiality to their clients, plus many rules and regulations controlling with whom we share information. As
a homeowner, if you desire a copy of the appraisal document, you generally have to obtain it from your lender instead of the appraiser.
Appraisers will regularly be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary role is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - at Appraisal Associates you can rest assured that we adhere to that rule.
We meet or exceed the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. Working on orders where our fee is dependent on our value conclusion is never an option. In other words, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that fabricating a home's value to achieve what amounts to a higher paycheck is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice 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" as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as you request an appraisal from Appraisal Associates, we'll make sure you're getting the professional service you expect along with the business principles we're known for.