Honesty and Integrity: Alliance Appraisal, Inc.
Generally, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we are bound by an ethical code.
As appraisers our primary responsibility is to his or her client. Generally, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require a copy of the appraisal document, you should get it from your lender. Other obligations also include, accurate figures appropriate to the parameters of the report, acquiring and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Alliance Appraisal, Inc., we take these ethical responsibilities very to heart.
Alliance Appraisal, Inc. has an established reputation for producing appraisals with the highest of ethics. Contact us today to learn more.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - something else Alliance Appraisal, Inc. makes a part of their standard routine.
Alliance Appraisal, Inc. holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we can'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 probably the appraisal industries biggest no-no, because it would invite appraisal fraud since raising the estimate of the home would up the their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," as well as other situations. We diligently follow these rules to the letter which means you can be assured we are going above and beyond to objectively determine the home or property value.
With Alliance Appraisal, Inc., you can be assured of 100 percent ethical, professional service.