Price Appraisals & Realty, LLC upholds the highest professional ethics
Appraising is, by and large, a long term career. 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 definitely be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many responsibilities as appraisers but our main duty is to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like a copy of the appraisal document, you generally have to obtain it from your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the assignment, reaching and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Price Appraisals & Realty, LLC, we take these ethical responsibilities very seriously.
Price Appraisals & Realty, LLC has an established reputation for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers will regularly need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - at Price Appraisals & Realty, LLC you can rest assured that we adhere to that rule.
When creating reports, we follow the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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," "the amount of a value opinion," as well as other situations. We follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.
When you request an appraisal from Price Appraisals & Realty, 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.