Honesty and Integrity: Astute Appraisals, Inc.
Generally, appraising a long term career. 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 certainly be called a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
As appraisers our main obligation is to his or her client. Typically, 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 require to review an appraisal report, you should request it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at Astute Appraisals, Inc..
Astute Appraisals, Inc. has worked hard for its track record for providing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will sometimes be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined 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 things in the framework of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - something else Astute Appraisals, Inc. makes a part of their standard routine.
Astute Appraisals, Inc. holds itself to the industry standards and mandates set in place for ethics. We can't accept anything less 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 perhaps the appraisal industries biggest no-no, because it would invite appraisal fraud since increasing the value of the home would up the fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.
With Astute Appraisals, Inc., you won't have any doubts that you're receiving 100 percent ethical, professional service.