Graham Appraisal maintains the utmost professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we are bound by an ethical code.
We have a great deal of obligations as appraisers but our main duty is to our clients. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you desire to obtain a copy of the appraisal document, you generally have to obtain it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the assignment, acquiring and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Graham Appraisal.
Graham Appraisal has worked hard for its reputation for providing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will often be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - something else Graham Appraisal takes very seriously.
We meet or beat the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Working on orders that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations that the 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 follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.
With Graham Appraisal, you can be assured of 100 percent ethical, professional service.