For honest and ethical appraisals, trust Graham Appraisal
We think of our business as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.
We have many obligations as appraisers but our main duty is to our clients. More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to review an appraisal report, you should request it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the assignment, attaining and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Graham Appraisal, we take these ethical responsibilities very seriously.
Graham Appraisal has worked hard for its reputation for completing appraisals with the highest of ethics. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - at Graham Appraisal you can rest assured that we adhere to that rule.
Graham Appraisal holds itself to the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. We don't do assignments on contingency fees. 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 perhaps the appraisal industries biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. 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 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.
With Graham Appraisal, you won't have any doubts that you're getting 100 percent ethical, professional service.