Concra Appraisal Associates upholds the utmost professional ethics
We think of what we do as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
For an appraiser the main responsibility is to their client. Typically, in residential practice, 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 desire to review an appraisal report, you generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Concra Appraisal Associates, we take these ethical responsibilities very seriously.
Concra Appraisal Associates has worked hard for its track record for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will often need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. 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 job.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Concra Appraisal Associates takes very seriously.
We only perform to the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations to which an 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 at ease knowing we are doing everything we can to objectively determine the home or property value.
As soon as you order an appraisal from Concra Appraisal Associates 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.