For honest and ethical appraisals, count on On the Mark Appraisals
Typically, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can certainly be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a great deal of obligations as appraisers but above everything we answer to our clients. More often than not, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require to obtain a copy of the appraisal document, you should request it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at On the Mark Appraisals, we take these ethical responsibilities very seriously.
On the Mark Appraisals has worked hard for its reputation for producing appraisals with the highest of ethics. To learn more Contact us
Appraisers can regularly have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else On the Mark Appraisals makes a part of their standard routine.
We demand the highest ethical standards possible from ourselves. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unethical practices may be established 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 the acceptance 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 be confident we are doing everything we can to objectively determine the home or property value.
With On the Mark Appraisals, you won't have any doubts that you're getting 100 percent ethical, professional service.