Michelle Clyde Appraisals upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have a great deal of responsibilities as appraisers but our chief duty is to our clients. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you want to obtain a copy of the appraisal document, you should obtain it from your lender. Other obligations also include, accurate sums appropriate to the scope of the report, acquiring and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Michelle Clyde Appraisals, we take these ethical responsibilities very to heart.
Michelle Clyde Appraisals has an established reputation 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, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Michelle Clyde Appraisals you can rest assured that we adhere to that rule.
We require the highest ethical standards possible from ourselves. We don't do assignments on contingency fees. That is, we are not able to 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 probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the value of the home would inflate the their paycheck. We don't do that. Other improper 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 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 diligently follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.
With Michelle Clyde Appraisals, you can be assured of 100 percent ethical, honest service.