ASAP Appraisal Group maintains the highest professional ethics
Appraising is, by and large, a long term career. The rigors of becoming 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 considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
As appraisers our main obligation is to their client. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you desire to review the appraisal document, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, acquiring and keeping a particular 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 an established track record for performing competent and ethically superior appraisals. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - at ASAP Appraisal Group you can rest assured that we adhere to that rule.
We require the highest professional integrity possible 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 the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations 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 follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of 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 an ethical approach with appraisals that we're known for.