Appraisers of NE Ohio maintains the highest professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have a lot of obligations as appraisers but our chief duty is to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you require to obtain a copy of the appraisal document, you should obtain it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Appraisers of NE Ohio.
Appraisers of NE Ohio has an established track record for producing competent and ethically superior appraisals. To learn more Contact us
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - something else Appraisers of NE Ohio makes a part of their standard routine.
We meet or beat the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. 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 raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Appraisers of NE Ohio, you won't have any doubts that you're receiving 100 percent ethical, professional service.