 John Alve, Real Estate Appraisals maintains the utmost professional ethicsWe think of what we do as a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have many responsibilities as appraisers, but first and foremost we answer to our clients.
Most of the time, for a normal 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 hired in order to maintain independence.
It's important to know that certain details relating to an assignment are to be shared with the appraiser's client. So, as
a homeowner, if you want to review an appraisal report, you normally should obtain it from your lender.
Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at John Alve, Real Estate Appraisals you can rest assured that we stick to that rule. While working on an appraisal, we follow the highest ethical standards possible. Working on orders based on contingency fees is not something we can consider. That is, we don't agree to do an appraisal report and get paid only if the loan closes. Anyone should be able to see that inflating a value to achieve what amounts to a bigger fee is unethical! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly defines 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 follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value. With John Alve, Real Estate Appraisals, you won't have any doubts that you're getting 100 percent ethical, honest service. |
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