Honesty and Integrity: Home and Land Appraisal Co.
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have a lot of obligations as appraisers but our main duty is to our clients. Typically, 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 to review the appraisal document, you generally have to request it from your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the assignment, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Home and Land Appraisal Co..
Home and Land Appraisal Co. has worked hard for its reputation for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - at Home and Land Appraisal Co. you can rest assured that we stick to that rule.
Home and Land Appraisal Co. holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other unprofessional 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 be confident we are working hard to provide an unbiased determination of the home or property value.
As soon as you order an appraisal from Home and Land Appraisal Co. 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.