For honest and ethical appraisals, count on Anderson & Associates
Appraising is a profession, and appraisers are professionals. 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 unquestionably be considered a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
We have a lot of obligations as appraisers but above everything we answer to our clients. Most of the time, in residential practice, 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 want a copy of an appraisal report, you should request it through your lender. Other obligations also include, accurate sums appropriate to the parameters of the assignment, acquiring and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Anderson & Associates, we take these ethical responsibilities very to heart.
Anderson & Associates has worked hard for its track record for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at Anderson & Associates you can rest assured that we adhere to that rule.
We demand the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers up 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 to which an 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 follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
When you engage Anderson & Associates 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.