Honesty and Integrity: Price Appraisals & Realty, LLC
We consider our our job a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.
As appraisers our main obligation is to their client. Generally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you require to review an appraisal report, you should get it through your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the assignment, reaching and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Price Appraisals & Realty, LLC, we take these ethical responsibilities very to heart.
Price Appraisals & Realty, LLC has an established track record for producing appraisals with the highest of ethics. To learn more Contact us
Appraisers may also have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - at Price Appraisals & Realty, LLC you can rest assured that we stick to that rule.
When creating reports, we follow the highest ethical standards possible. Doing assignments on contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would invite appraisal fraud since raising the estimate of the home would up the fee. We don't do that. Other unethical practices may be established 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 diligently follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.
With Price Appraisals & Realty, LLC, you can be assured of 100 percent ethical, professional service.