Honesty and Integrity: Elite Appraisal Services
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 in this day and age that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. As with any profession we are bound by an ethical code.
The appraiser's main responsibility is to his or her client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you want a copy of an appraisal report, you should request it from your lender. Other responsibilities also include, accurate sums appropriate to the nature of the report, attaining and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Elite Appraisal Services, we take these ethical responsibilities very seriously.
Elite Appraisal Services has worked hard for its reputation for completing competent and ethically superior appraisals. To learn more Contact us
Appraisers can regularly have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Elite Appraisal Services you can rest assured that we adhere to that rule.
Elite Appraisal Services holds itself to the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. Working on orders that contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since increasing the value of the home would raise the fee. We don't do that. Other improper practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics as the acceptance 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 confident we are working hard to provide an unbiased determination of the home or property value.
With Elite Appraisal Services, you won't have any doubts that you're receiving 100 percent ethical, professional service.