For honest and ethical appraisals, count on James Earp Appraisal ServiceAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations. We have a great deal of responsibilities as appraisers but our chief duty is to our clients. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to review the appraisal document, you generally have to get it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the assignment, acquiring and maintaining a respectable 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 James Earp Appraisal Service. James Earp Appraisal Service has worked hard for its reputation for completing competent and ethically superior appraisals. To learn more Contact us Appraisers can often 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 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 store their work files for a minimum of five years - something else James Earp Appraisal Service takes very seriously. While busy with an appraisal, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we can't 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 probably the appraisal industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies 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," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value. When you request an appraisal from James Earp Appraisal Service we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for. |