Honesty and Integrity: Appraisal Service and Solutions, LLCAppraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed 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.
Generally, for a typical residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that appraisers have certain duties of privacy to their clients, plus many rules and regulations that must be followed. As
a homeowner, if you would like to review the appraisal document, you generally have to request it through your lender and not the appraiser.
Appraisers will sometimes be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary role is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - at Appraisal Service and Solutions, LLC you can rest assured that we stick to that rule.
We require the highest ethical standards possible from ourselves. Working on assignments where our fee is dependent on our value conclusion is never an option. That means we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that fabricating a property's value to achieve a bigger paycheck is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also describes 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", or "the amount of a value opinion" in addition to other situations We diligently 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.
As soon as you order an appraisal from Appraisal Service and Solutions, LLC, we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for.