Honesty and Integrity: Quality Appraisal Solution and ServicesAppraising 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 definitely be dubbed a profession rather than a trade. As with any profession we are bound by an ethical code.
We have a lot of responsibilities as appraisers, but our chief duty is to our clients.
Normally, for a normal 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 brought in to maintain independence.
Subsequently, appraisers have certain duties of confidentiality to their clients, plus many rules and regulations controlling with whom we share information. As
a homeowner, if you would like to review the appraisal document, you normally should request it from your lender.
Appraisers may regularly have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - at Quality Appraisal Solution and Services you can rest assured that we abide by that rule.
We only perform to the highest ethical standards possible. Accepting assignments based on contingency fees is not something we can consider. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. There's an obvious conflict of interest if an appraiser can report a greater value and then get paid more money! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also defines unethical behavior 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 follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.
With Quality Appraisal Solution and Services, you won't have any doubts that you're getting 100 percent ethical, professional service.