For honest and ethical appraisals, rely on Premier Appraisal of SoCal
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
An appraiser's primary obligation is to his or her client. Generally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to obtain a copy of an appraisal report, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Premier Appraisal of SoCal, we take these ethical responsibilities very seriously.
Premier Appraisal of SoCal has an established reputation for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. 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.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Premier Appraisal of SoCal makes a part of their standard routine.
Premier Appraisal of SoCal holds itself to the industry standards and rules set in place for professional behavior. We refuse to accept anything less from ourselves. Doing assignments on contingency fees is not something we can consider That is, we can't 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 probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would inflate the fee. We don't do that. Other improper practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior as the acceptance 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," as well as other situations. We follow these rules to the letter which means you can be assured we are going above and beyond to objectively determine the home or property value.
With Premier Appraisal of SoCal, you can be assured of 100 percent ethical, honest service.