Honesty and Integrity: Crest Appraisal Services
Appraising is generally a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession as opposed to a trade. As with any profession we are bound by an ethical code.
The appraiser's primary obligation is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to review an appraisal report, you normally have to get it through your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, attaining and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Crest Appraisal Services.
Crest Appraisal Services has an established track record for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are explicitly 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 things in the framework of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - something else Crest Appraisal Services takes very seriously.
Crest Appraisal Services holds itself to the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, 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 defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 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.
When you order an appraisal from Crest Appraisal Services we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.