ASAP Appraisal Group upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. 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 definitely be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
An appraiser's chief obligation is to his or her client. Generally, for a typical 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 would like a copy of an appraisal report, you generally have to get it from your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, reaching and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at ASAP Appraisal Group, we take these ethical responsibilities very seriously.
ASAP Appraisal Group has worked hard for its reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can also have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else ASAP Appraisal Group diligently adheres to.
We demand the highest professional integrity possible from ourselves. Working on orders that contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite appraisal fraud since raising the estimate of the home would raise the fee. We set ourselves to a higher standard. Other improper 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 follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
When you request an appraisal from ASAP Appraisal Group we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.