![]() For honest and ethical appraisals, count on Empire Inspections & AppraisalsAppraising 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 in this day and age that real estate appraisal can definitely 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 first and foremost we answer to our clients.
Most of the time, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has contracted in order to maintain independence.
It follows that appraisers have certain duties of confidentiality to their clients, plus strict rules and regulations to which we must adhere. As
a homeowner, if you desire to obtain a copy of an appraisal report, you normally should get it via your lender.
Appraisers will regularly be obligated to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. 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 assignment.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at Empire Inspections & Appraisals you can rest assured that we stick to that rule. While working on an assignment, we follow the highest ethical standards possible. Accepting orders based on contingency fees is never an option. That is, we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. It should be obvious that inflating a value to achieve essentially a bigger fee is unethical! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly states a violation in ethics 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", or "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 working hard to objectively determine the home or property value. With Empire Inspections & Appraisals, you won't have any doubts that you're getting 100 percent ethical, professional service. |