Honesty and Integrity: Appraisal NetworkAppraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
The appraiser's primary responsibility is to their client.
Normally, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
Subsequently, appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you desire to obtain a copy of the appraisal document, you normally have to get it via your lender instead of the appraiser.
Appraisers can also have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at Appraisal Network you can rest assured that we abide by that rule.
We require the highest ethical standards possible from ourselves. Accepting assignments based on contingency fees is never an option. That means we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that inflating a value to achieve a higher fee is unethical! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly 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", or "the amount of a value opinion" as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.
With Appraisal Network, you can be assured of 100 percent ethical, honest service.