Honesty and Integrity: Crowe Appraisals
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why 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.
We have a great deal of responsibilities as appraisers but above everything we answer to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to review an appraisal report, you generally have to obtain it through your lender. Other obligations also include, accurate sums appropriate to the parameters of the assignment, 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 worked hard for its track record for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at Crowe Appraisals you can rest assured that we adhere to that rule.
We demand the highest professional integrity possible from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "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 provide an unbiased determination of the home or property value.
When you engage 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.