For honest and ethical appraisals, count on Hemet Appraisers
We consider our business a profession. Requirements to become a licensed/certified appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have quite a few responsibilities as appraisers but above everything we answer to our clients. Normally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to review an appraisal report, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, acquiring and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Hemet Appraisers, we take these ethical responsibilities very seriously.
Hemet Appraisers has worked hard for its track record for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - at Hemet Appraisers you can rest assured that we abide by that rule.
Hemet Appraisers holds itself to the industry standards and guidelines set in place for ethics. We can't accept anything less from ourselves. We never do assignments on contingency fees. 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 perhaps the appraisal professions most important rule, because it would invite appraisal fraud since raising the estimate of the home would increase the fee. We don't do that. Other unprofessional practices may be defined by state law or professional societies 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 at ease knowing we are doing everything we can to objectively determine the home or property value.
As soon as you request an appraisal from Hemet Appraisers we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.