 Honesty and Integrity: Elite Appraisals (215) 431-6123Appraising is, by and large, a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
We have a great deal of obligations as appraisers, but our chief duty is to our clients.
Typically, for a standard residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Subsequently, appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you would like a copy of an appraisal report, you generally should request it through your lender.
Appraisers will sometimes be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Elite Appraisals (215) 431-6123 you can rest assured that we abide by that rule. Elite Appraisals (215) 431-6123 holds itself to the industry standards and rules set in place for ethics. We can't accept anything less from ourselves. Accepting orders where our fee is dependent on our value conclusion is never an option. That means we don't agree to do an appraisal report and get paid only if the loan closes. There's certainly a conflict of interest if an appraiser can report a larger value and then get paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice 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" as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value. With Elite Appraisals (215) 431-6123, you won't have any doubts that you're receiving 100 percent ethical, honest service. |
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