Premier Appraisal of SoCal upholds the utmost professional ethics
We think of our business as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So 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 are bound by an ethical code.
As appraisers our chief obligation is to his or her client. Normally, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to obtain a copy of the appraisal document, you should request it from your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the assignment, reaching and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Premier Appraisal of SoCal.
Premier Appraisal of SoCal has worked hard for its track record for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third 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 duties outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - something else Premier Appraisal of SoCal takes very seriously.
We meet or beat the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. Working on assignments that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite appraisal fraud since increasing the estimate of the home would increase the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 assured we are doing everything we can to provide an unbiased determination of the home or property value.
As soon as you engage Premier Appraisal of SoCal 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.