Honesty and Integrity: Absolute Appraisals, LLC
By and large, appraising a long term career. Requirements to become 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 definitely be dubbed a profession as opposed to a trade. As with any profession we are bound by an ethical code.
We have a great deal of responsibilities as appraisers but our primary duty is to our clients. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to review the appraisal document, you should get it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, attaining and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Absolute Appraisals, LLC, we take these ethical responsibilities very to heart.
Absolute Appraisals, LLC has an established reputation for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can frequently have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in scope of 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 written parameters of the assignment.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - at Absolute Appraisals, LLC you can rest assured that we abide by that rule.
We meet or beat the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. 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 industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 assured we are doing everything we can to provide an unbiased determination of the home or property value.
With Absolute Appraisals, LLC, you can be assured of 100 percent ethical, professional service.