For honest and ethical appraisals, trust Concra Appraisal Associates
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 in this day and age that real estate appraisal can certainly be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have quite a few obligations as appraisers but first and foremost we answer to our clients. Typically, 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 review the appraisal document, you should get it through your lender. Other obligations also include, accurate sums appropriate to the nature of the assignment, reaching and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at Concra Appraisal Associates.
Concra Appraisal Associates has worked hard for its track record for performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will regularly be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical rules 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 - at Concra Appraisal Associates you can rest assured that we abide by that rule.
While working on an appraisal, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since increasing the estimate of the home would inflate the their paycheck. We don't do that. Other unprofessional practices may be defined by state law or professional organizations that the 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 diligently follow these rules to the letter which means you can be assured we are doing everything we can to provide an unbiased determination of the home or property value.
As soon as you engage 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.