For honest and ethical appraisals, rely on Springs Appraisals (719) 637-2658By and large, appraising is a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
The appraiser's chief obligation is to their client.
Normally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Certain details pertaining to an assignment are to be shared exclusively with the appraiser's client. So, as
a homeowner, if you desire to review the appraisal document, you generally should obtain it via your lender and not the appraiser.
Appraisers will often be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those third 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 clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Springs Appraisals (719) 637-2658 makes a part of their standard routine.
We require the highest ethical standards possible from ourselves. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. In other words, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. It should be obvious that fabricating a property's value to achieve essentially a higher paycheck is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice also describes 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" in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.
When you engage Springs Appraisals (719) 637-2658, we'll make sure you're getting the professional service you deserve along with the principles we're known for.