Honesty and Integrity: ASAP Appraisal Group
We think of what we do as a profession. 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 definitely be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
We have a lot of responsibilities as appraisers but our main duty is to our clients. Normally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire a copy of an appraisal report, you normally have to get it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, acquiring and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at ASAP Appraisal Group, we take these ethical responsibilities very seriously.
ASAP Appraisal Group has worked hard for its track record for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers may often have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at ASAP Appraisal Group you can rest assured that we abide by that rule.
We only perform to the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we don't 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 perhaps the appraisal industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other improper practices may be established by state law or professional organizations 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 diligently follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.
As soon as you engage ASAP Appraisal Group we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.