Honesty and Integrity: Astute Appraisals, Inc.
Appraising is a profession, and appraisers are professionals. The rigors of becoming 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 called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
For an appraiser the primary obligation is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require to review an appraisal report, you should obtain it from your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the assignment, reaching and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is just normal course of business for us at Astute Appraisals, Inc..
Astute Appraisals, Inc. has worked hard for its track record for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser knows, 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 be able to produce their work files for at least five years - at Astute Appraisals, Inc. you can rest assured that we adhere to that rule.
We demand the highest ethical standards possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would invite appraisal fraud since increasing the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations to which an 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 rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Astute Appraisals, Inc., you can be assured of 100 percent ethical, professional service.