For honest and ethical appraisals, count on Priority First Appraisal LLC
Generally, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
As appraisers our main responsibility is to his or her client. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. 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 want to obtain a copy of an appraisal report, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Priority First Appraisal LLC, we take these ethical responsibilities very seriously.
Priority First Appraisal LLC has worked hard for its reputation for completing competent and ethically superior appraisals. To learn more Contact us
Appraisers will sometimes be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else Priority First Appraisal LLC makes a part of their standard routine.
When creating reports, we follow the highest ethical standards possible. Working on assignments that contingency fees is not something we can consider 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 professions biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations that the 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," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as you engage Priority First Appraisal LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.