 For honest and ethical appraisals, count on Jeanette Ford Appraisal ServiceAppraising is generally a long term career. The rigors of becoming 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 certainly be considered a profession rather than a trade. As with any profession we are bound by an ethical code.
The appraiser's chief obligation is to their client.
Generally, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has brought in to maintain independence.
Thereon, appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you desire to review the appraisal document, you normally should obtain it through your lender.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary role is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - something else Jeanette Ford Appraisal Service makes a part of their standard routine. Jeanette Ford Appraisal Service holds itself to the industry standards and rules set in place for professional behavior. We refuse to accept anything less from ourselves. Doing orders based on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. There's certainly a conflict of interest if an appraiser can report a larger value and then get paid more money! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice also states unethical behavior 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", or "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 going above and beyond to get you an accurate home or property value. With Jeanette Ford Appraisal Service, you can be assured of 100 percent ethical, honest service. |
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