For honest and ethical appraisals, rely on Tight & Right Real Estate Valuation
Typically, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have quite a few responsibilities as appraisers but above everything we answer to our clients. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want to review the appraisal document, you generally have to get it from your lender. Other obligations also include, accurate sums appropriate to the scope of the report, acquiring and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Tight & Right Real Estate Valuation, we take these ethical responsibilities very seriously.
Tight & Right Real Estate Valuation has worked hard for its track record for performing competent and ethically superior appraisals. 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. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at Tight & Right Real Estate Valuation you can rest assured that we stick to that rule.
We demand the highest professional integrity possible from ourselves. We never do assignments on contingency fees. That is, we are not able to 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 raising the value of the home would inflate the fee. We don't do that. Other unprofessional practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.
As soon as you request an appraisal from Tight & Right Real Estate Valuation we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.