Honesty and Integrity: Orangecrest Appraisal Service
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to 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. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you would like a copy of the appraisal document, you should get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and sustaining an appropriate 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 Orangecrest Appraisal Service.
Orangecrest Appraisal Service has an established reputation for performing appraisals with the highest of ethics. To learn more Contact us
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Normally the third parties are explicitly 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 job.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - something else Orangecrest Appraisal Service makes a part of their standard routine.
We only perform to the highest ethical standards possible. Working on orders that contingency fees is never an option. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, 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 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," in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.
With Orangecrest Appraisal Service, you can be assured of 100 percent ethical, honest service.