Honesty and Integrity: Keystone Appraisals and Consulting, LLC
We consider our our business a profession. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
For an appraiser the main obligation is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you want to obtain a copy of an appraisal report, you should request it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, acquiring and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Keystone Appraisals and Consulting, LLC, we take these ethical responsibilities very seriously.
Keystone Appraisals and Consulting, LLC has worked hard for its track record for completing competent and ethically superior appraisals. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at Keystone Appraisals and Consulting, LLC you can rest assured that we adhere to that rule.
We meet or beat the industry standards and rules set in place for ethics. We refuse to accept anything less from ourselves. Doing assignments on contingency fees is never an option. That is, we don'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 no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional organizations to which an 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," in addition to other situations We follow these rules to the letter which means you can rest easy 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.