For honest and ethical appraisals, count on Elite Appraisal Services
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have a great deal of responsibilities as appraisers but first and foremost we answer to our clients. Most of the time, for a normal 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 desire a copy of an appraisal report, you normally have to obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Elite Appraisal Services.
Elite Appraisal Services has worked hard for its reputation for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers can also have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - something else Elite Appraisal Services takes very seriously.
We require the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other unprofessional 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 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," in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.
When you order an appraisal from Elite Appraisal Services we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.