For honest and ethical appraisals, count on Graham Appraisal
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
We have a great deal of obligations as appraisers but our main duty is to our clients. Most of the time, 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 desire a copy of an appraisal report, you generally have to get it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Graham Appraisal, we take these ethical responsibilities very to heart.
Graham Appraisal has worked hard for its track record for providing appraisals with the highest of ethics. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - at Graham Appraisal you can rest assured that we stick to that rule.
We only perform to the highest ethical standards possible. Doing assignments on contingency fees is not something we can consider That is, we can'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 probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies 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 follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.
With Graham Appraisal, you won't have any doubts that you're receiving 100 percent ethical, professional service.