For honest and ethical appraisals, trust Anderson Appraisal, LLC
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we are bound by ethical considerations.
We have many obligations as appraisers but above everything we answer to our clients. Normally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you desire to review an appraisal report, you normally have to request it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the assignment, acquiring and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Anderson Appraisal, LLC, we take these ethical responsibilities very to heart.
Anderson Appraisal, LLC has an established track record for producing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of 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 duty is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at Anderson Appraisal, LLC you can rest assured that we abide by that rule.
We require the highest ethical standards possible from ourselves. Doing assignments on contingency fees is never an option. 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 perhaps the appraisal industries biggest taboo, because it would invite appraisal fraud since increasing the value of the home would up the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies that the 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," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.
When you engage Anderson Appraisal, LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.