Honesty and Integrity: Associated Appraisal Services
Appraising is typically a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have many obligations as appraisers but our primary duty is to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you desire to obtain a copy of an appraisal report, you generally have to request it through your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, reaching and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is just normal course of business for us at Associated Appraisal Services.
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Appraisers will regularly need to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - at Associated Appraisal Services you can rest assured that we stick to that rule.
Associated Appraisal Services holds itself to the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. Working on orders that contingency fees is not something we can consider 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 perhaps the appraisal industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. 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 unethical behavior 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," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.
With Associated Appraisal Services, you won't have any doubts that you're getting 100 percent ethical, honest service.