Premier Appraisal of SoCal upholds the utmost professional ethics
Appraising is, by and large, a long term career. Requirements to become 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 certainly be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have many obligations as appraisers but above everything we answer to our clients. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you would like to review the appraisal document, you should obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at Premier Appraisal of SoCal.
Premier Appraisal of SoCal has worked hard for its reputation for producing competent and ethically superior appraisals. To learn more Contact us
Appraisers may often have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at Premier Appraisal of SoCal you can rest assured that we abide by that rule.
We meet or beat the industry standards and rules set in place for ethics. We refuse to accept anything less from ourselves. Working on assignments that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite appraisal fraud since raising the value of the home would inflate the fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 confident we are going above and beyond to objectively determine the home or property value.
When you engage Premier Appraisal of SoCal we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.