For honest and ethical appraisals, rely on Chandler Real Estate Services, LLC
Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. As with any profession we are bound by an ethical code.
For an appraiser the chief responsibility is to their client. More often than not, for a typical residential appraisal, 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 would like to review the appraisal document, you generally have to get it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, attaining and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Chandler Real Estate Services, LLC, we take these ethical responsibilities very to heart.
Chandler Real Estate Services, LLC has worked hard for its reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will regularly need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Chandler Real Estate Services, LLC takes very seriously.
When 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 don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite fraudulent practices since increasing the estimate of the home would increase the fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 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.
As soon as you request an appraisal from Chandler Real Estate Services, LLC 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.