A-1 Appraisal (630) 514-6136 upholds the highest professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.
An appraiser's main responsibility is to their client. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require to obtain a copy of the appraisal document, you should obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and keeping a particular 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 A-1 Appraisal (630) 514-6136.
A-1 Appraisal (630) 514-6136 has an established track record for performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can frequently have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - something else A-1 Appraisal (630) 514-6136 diligently adheres to.
We demand the highest professional integrity possible from ourselves. We have a responsibility not to 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. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies that the 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 assured we are doing everything we can to provide an unbiased determination of the home or property value.
As soon as you order an appraisal from A-1 Appraisal (630) 514-6136 we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.