For honest and ethical appraisals, count on Orangecrest Appraisal Service
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 in this day and age that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have quite a few obligations as appraisers but our primary duty is to our clients. Generally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you desire a copy of the appraisal document, you should get it from your lender. Other obligations also include, accurate calculations appropriate to the parameters of the assignment, attaining and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Orangecrest Appraisal Service, we take these ethical responsibilities very seriously.
Orangecrest Appraisal Service has worked hard for its reputation for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers may often have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - at Orangecrest Appraisal Service you can rest assured that we adhere to that rule.
We only perform to the highest ethical standards possible. Working on assignments that contingency fees is never an option. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would inflate the their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "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 going above and beyond to objectively determine the home or property value.
As soon as you engage Orangecrest Appraisal Service 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.