For honest and ethical appraisals, count on ASAP Appraisal Group
We think of our business as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age 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.
For an appraiser the main responsibility is to their client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire a copy of the appraisal document, you normally have to obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and keeping a respectable 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 ASAP Appraisal Group.
ASAP Appraisal Group has an established reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted 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 rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - at ASAP Appraisal Group you can rest assured that we stick to that rule.
We demand the highest professional integrity possible from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite fraudulent practices since raising the value of the home would increase the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 rest easy knowing we are working hard to provide an unbiased determination of the home or property value.
When you request an appraisal from 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.