Honesty and Integrity: James Earp Appraisal Service
Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
For an appraiser the main obligation is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require to obtain a copy of the appraisal document, you should get it through your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the report, acquiring and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at James Earp Appraisal Service, we take these ethical responsibilities very seriously.
James Earp Appraisal Service has worked hard for its track record for performing competent and ethically superior appraisals. To learn more Contact us
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - at James Earp Appraisal Service you can rest assured that we adhere to that rule.
We meet or beat the industry standards and mandates set in place for ethics. We can't accept anything less 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 invite fraudulent practices since increasing the value of the home would raise the their paycheck. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With James Earp Appraisal Service, you can be assured of 100 percent ethical, honest service.