Honesty and Integrity: Tri-City Appraisers
Typically, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
The appraiser's primary responsibility is to his or her client. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like a copy of the appraisal document, you should get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Tri-City Appraisers, we take these ethical responsibilities very to heart.
Tri-City Appraisers has an established track record for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers can sometimes have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is only 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 whom we share information. For example, appraisers must backup their work files for a minimum of five years - at Tri-City Appraisers you can rest assured that we abide by that rule.
We require the highest ethical standards possible from ourselves. Working on assignments that contingency fees is never an option. That is, we don't 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 professions most important rule, because it would invite fraudulent practices since increasing the estimate of the home would increase the 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 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 rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value.
When you engage Tri-City Appraisers we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.