Anderson Appraisal, LLC upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a great deal of obligations as appraisers but first and foremost we answer to our clients. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you want to obtain a copy of the appraisal document, you generally have to obtain it through your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the report, reaching and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Anderson Appraisal, LLC, we take these ethical responsibilities very to heart.
Anderson Appraisal, LLC has worked hard for its track record for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - something else Anderson Appraisal, LLC makes a part of their standard routine.
We demand the highest ethical standards possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would invite appraisal fraud since increasing the estimate of the home would raise the their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "the amount of a value opinion," in addition to other situations We follow these rules to the letter which means you can be confident we are doing everything we can to objectively determine the home or property value.
With Anderson Appraisal, LLC, you can be assured of 100 percent ethical, professional service.