 Honesty and Integrity: Appraisals Excel CorporationAppraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have many obligations as appraisers, but our chief duty is to our clients.
More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence.
Appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you desire to review the appraisal document, you generally have to obtain it from your lender.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, 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 be able to produce their work files for a minimum of five years - something else Appraisals Excel Corporation makes a part of their standard routine. We require the highest professional integrity possible from ourselves. Accepting orders based on contingency fees is never an option. In other words, we are not able to agree to do an appraisal report and get paid only if the loan closes. There's an obvious conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also defines unethical behavior 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 follow these rules to the letter which means you can be assured we are doing everything we can to get you an accurate home or property value. With Appraisals Excel Corporation, you can be assured of 100 percent ethical, professional service. |
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