Honesty and Integrity: Tight & Right Real Estate Valuation
Typically, appraising is a long term career. Requirements to become a licensed appraiser have increased more 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 as opposed to a trade. As with any profession we must follow strict ethical considerations.
The appraiser's main obligation is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients and the homeowner, if you desire to obtain a copy of an appraisal report, you normally have to get it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Tight & Right Real Estate Valuation, we take these ethical responsibilities very much to heart.
Tight & Right Real Estate Valuation has worked hard for its track record for producing competent and ethically superior appraisals. To learn more Contact us
We Follow Strict Rules & Regulations of The Uniform Standards of Professional Appraisal Practice (USPAP)
Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical duties that have nothing to do with clients and others. For example, honest 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 adhere to that rule.
We require the highest professional integrity possible from ourselves. 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. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.
With Tight & Right Real Estate Valuation, you won't have any doubts that you're getting 100 percent ethical, professional service.