Crowe Appraisals upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. 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 certainly be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
As appraisers our chief responsibility is to his or her client. More often than not, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you desire to obtain a copy of an appraisal report, you generally have to obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Crowe Appraisals, we take these ethical responsibilities very seriously.
Crowe Appraisals has an established reputation for performing competent and ethically superior appraisals. Contact us today to learn more.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else Crowe Appraisals diligently adheres to.
When busy with an assignment, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be defined by state law or professional organizations that the 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 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.
As soon as you request an appraisal from Crowe Appraisals we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.