Keystone Appraisals and Consulting, LLC upholds the highest professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a Certified General Appraiser have become more difficult than ever in the past, far surpassing the qualifications to just be licensed. So it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
The appraiser's chief obligation is to his or her client. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to obtain a copy of the appraisal document, you should get it through your lender. Other obligations also include, accurate figures appropriate to the parameters of the assignment, attaining and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Keystone Appraisals and Consulting, LLC, we take these ethical responsibilities very seriously.
Keystone Appraisals and Consulting, LLC has an established reputation for providing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can sometimes have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - at Keystone Appraisals and Consulting, LLC you can rest assured that we adhere to that rule.
When busy with an order, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we can't 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 probably the appraisal industries biggest taboo, because it would invite fraudulent practices since increasing the value of the home would inflate the their paycheck. We don't do that. Other unethical practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.
With Keystone Appraisals and Consulting, LLC, you can be assured of 100 percent ethical, professional service.
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