 For honest and ethical appraisals, rely on Fuller Partners Appraisals, LLCAppraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
An appraiser's main obligation is to their client.
Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has brought in to maintain independence.
Subsequently, appraisers have certain duties of privacy to their clients, plus strict rules and regulations controlling with whom we share information. So, as
a homeowner, if you desire to obtain a copy of an appraisal report, you generally should request it through your lender.
Appraisers can also have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, 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 Fuller Partners Appraisals, LLC makes a part of their standard routine. When creating reports, we follow the highest ethical standards possible. Working on orders based on contingency fees is never an option. In other words, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. There's a definite 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") clearly 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" as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value. With Fuller Partners Appraisals, LLC, you won't have any doubts that you're getting 100 percent ethical, professional service. |
|||||||||
