For honest and ethical appraisals, count on James Earp Appraisal Service
By and large, appraising a long term career. Requirements to become 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. In our field, as with any profession, we are bound by ethical considerations.
For an appraiser the primary responsibility is to their client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you want a copy of an appraisal report, you generally have to request it through your lender. Other obligations also include, accurate sums appropriate to the parameters of the assignment, attaining and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at James Earp Appraisal Service, we take these ethical responsibilities very seriously.
James Earp Appraisal Service has an established reputation for providing competent and ethically superior appraisals. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - at James Earp Appraisal Service you can rest assured that we adhere to that rule.
James Earp Appraisal Service holds itself to the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 diligently follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value.
When you request an appraisal from James Earp Appraisal Service we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.