James Earp Appraisal Service upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
For an appraiser the primary obligation is to their client. Generally, for a regular residential appraisal, 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 a copy of an appraisal report, you normally have to obtain it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the assignment, acquiring 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 worked hard for its track record for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly be required to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at James Earp Appraisal Service you can rest assured that we abide by that rule.
James Earp Appraisal Service holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. 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 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 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.
With James Earp Appraisal Service, you won't have any doubts that you're receiving 100 percent ethical, professional service.