 For honest and ethical appraisals, trust Nationwide Property & Appraisal ServicesAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
The appraiser's main obligation is to their client.
Generally, 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.
Thereon, appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you would like a copy of the appraisal document, you normally have to obtain it through your lender and not the appraiser.
Appraisers will often be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at Nationwide Property & Appraisal Services you can rest assured that we abide by that rule. We demand the highest ethical standards possible from ourselves. Accepting orders where our fee is dependent on our value conclusion is never an option. That is, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's a definite conflict of interest if an appraiser can report a larger value and then get paid more money! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice also describes unethical behavior 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 objectively determine the home or property value. When you engage Nationwide Property & Appraisal Services, we'll make sure you're getting the professional service you deserve along with the principles we're known for. |
|||||||||
