Timely Appraisal Services upholds the highest professional ethics
We think of what we do as a profession. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we are bound by ethical considerations.
For an appraiser the primary obligation is to their client. Generally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire a copy of an appraisal report, you should obtain it from your lender. Other responsibilities also include, accurate figures appropriate to the nature of the assignment, acquiring and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Timely Appraisal Services, we take these ethical responsibilities very seriously.
Timely Appraisal Services has worked hard for its track record for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can regularly 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 duty is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - something else Timely Appraisal Services takes very seriously.
We demand the highest professional integrity possible from ourselves. Doing assignments on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their 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 defines 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 confident we are going above and beyond to objectively determine the home or property value.
With Timely Appraisal Services, you can be assured of 100 percent ethical, professional service.