Elite Appraisal Services maintains the utmost professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why 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 have a strict ethical code.
We have a lot of obligations as appraisers but first and foremost we answer to our clients. Normally, in residential practice, 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 should get it from your lender. Other obligations also include, accurate figures appropriate to the scope of the assignment, acquiring and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is is what we do everyday at Elite Appraisal Services.
Elite Appraisal Services has worked hard for its reputation for producing competent and ethically superior appraisals. To learn more Contact us
Appraisers can regularly have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third 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 a minimum of five years - at Elite Appraisal Services you can rest assured that we abide by that rule.
Elite Appraisal Services holds itself to the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 rest easy knowing we are going above and beyond to objectively determine the home or property value.
With Elite Appraisal Services, you won't have any doubts that you're receiving 100 percent ethical, professional service.