Astute Appraisals, Inc. upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become 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 dubbed a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
For an appraiser the primary obligation is to their client. Generally, in residential practice, 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 desire to review an appraisal report, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Astute Appraisals, Inc..
Astute Appraisals, Inc. has worked hard for its reputation for producing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - something else Astute Appraisals, Inc. makes a part of their standard routine.
We require the highest professional integrity possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we don't 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 professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. 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 a violation in ethics 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 follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.
When you request an appraisal from Astute Appraisals, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.