For honest and ethical appraisals, count on The Appraisal Shoppe, Inc.Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
The appraiser's main responsibility is to their client.
Most of the time, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Certain matters pertaining to an assignment are to be discussed exclusively with the appraiser's client. As
a homeowner, if you desire to obtain a copy of an appraisal report, you generally should request it from your lender.
Appraisers will often need to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility 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.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at The Appraisal Shoppe, Inc. you can rest assured that we stick to that rule.
We require the highest ethical standards possible from ourselves. Working on assignments based on contingency fees is never an option. That means we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's certainly a conflict of interest if an appraiser can report a larger value and then get paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to get you an accurate home or property value.
When you request an appraisal from The Appraisal Shoppe, Inc., we'll make sure you're getting the professional service you deserve along with the principles we're known for.