Graham Appraisal upholds the utmost professional ethics
Appraising is typically a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
For an appraiser the main responsibility is to their client. Most of the time, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to obtain a copy of the appraisal document, you should request it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, acquiring and keeping a certain 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 an established track record for providing competent and ethically superior appraisals. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
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 demand the highest ethical standards possible from ourselves. Working on orders that contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would invite appraisal fraud since increasing the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations that the 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 rest easy knowing we are working hard to objectively determine the home or property value.
With Graham Appraisal, you can be assured of 100 percent ethical, honest service.