Honesty and Integrity: ASAP Appraisal Group
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be called a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
As appraisers our primary responsibility is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require a copy of the appraisal document, you should get it through your lender. Other obligations also include, accurate figures appropriate to the parameters of the report, acquiring and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at ASAP Appraisal Group.
ASAP Appraisal Group has worked hard for its reputation for providing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can often have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll 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 rules outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - something else ASAP Appraisal Group makes a part of their standard routine.
We demand the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite fraudulent practices since raising the value of the home would up the their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies to which an 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," as well as other situations. We follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as 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.