![]() Select Appraisal Group upholds the highest professional ethicsTypically, appraising is a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we are bound by an ethical code.
We have a great deal of responsibilities as appraisers, but our main duty is to our clients.
Normally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Subsequently, 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 would like to obtain a copy of the appraisal document, you normally have to request it via your lender instead of the appraiser.
Appraisers can frequently have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary role is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - something else Select Appraisal Group diligently adheres to. When creating reports, we follow the highest ethical standards possible. Working on orders based on contingency fees is not something we can consider. That means we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that inflating a value to achieve what amounts to a higher fee is unethical! Finally, the Uniform Standards of Professional Appraisal Practice explicitly states a violation in ethics as accepting 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 be at ease knowing we are working hard to provide an unbiased determination of the home or property value. When you request an appraisal from Select Appraisal Group, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |