ASAP Appraisal Services, Inc. maintains the utmost professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become 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 definitely be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
The appraiser's primary responsibility is to their client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like a copy of an appraisal report, you should request it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at ASAP Appraisal Services, Inc., we take these ethical responsibilities very to heart.
ASAP Appraisal Services, Inc. has worked hard for its reputation for performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - something else ASAP Appraisal Services, Inc. makes a part of their standard routine.
We meet or beat the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 diligently follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.
When you order an appraisal from ASAP Appraisal Services, Inc. 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.