![]() E.A.S. Appraisals upholds the utmost professional ethicsAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. That's why 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 must follow strict ethical considerations.
An appraiser's main responsibility is to their client.
Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence.
Certain elements pertaining to an assignment are to be shared exclusively with the appraiser's client. So, as
a homeowner, if you want a copy of the appraisal document, you normally should obtain it through your lender.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - something else E.A.S. Appraisals makes a part of their standard routine. We demand the highest professional integrity possible from ourselves. Doing orders where our fee is dependent on our value conclusion is never an option. In other words, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. There's certainly a conflict of interest if an appraiser can report an unsubstantiated value and then get paid more money! Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly describes 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" in addition to other situations We follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value. With E.A.S. Appraisals, you can be assured of 100 percent ethical, professional service. |