Honesty and Integrity: Accuracy Matters Appraisals
By and large, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
For an appraiser the chief responsibility is to their client. Normally, for a normal residential appraisal, 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 want to obtain a copy of the appraisal document, you normally have to obtain it from your lender. Other obligations also include, accurate sums appropriate to the nature of the report, reaching and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Accuracy Matters Appraisals, we take these ethical responsibilities very to heart.
Accuracy Matters Appraisals has an established track record for producing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll 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 job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - at Accuracy Matters Appraisals you can rest assured that we adhere to that rule.
We meet or beat the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid 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 fraudulent practices since raising the value of the home would raise the their paycheck. We don't do that. 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," in addition to other situations We follow these rules to the letter which means you can be assured we are doing everything we can to provide an unbiased determination of the home or property value.
When you order an appraisal from Accuracy Matters Appraisals 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.