Honesty and Integrity: James Earp Appraisal Service
We think of our job as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. 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 main responsibility is to their client. More often than not, for a typical residential appraisal, 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 generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is just normal course of business for us at James Earp Appraisal Service.
James Earp Appraisal Service has an established reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - something else James Earp Appraisal Service makes a part of their standard routine.
We require the highest professional integrity 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 probably the appraisal professions biggest no-no, because it would invite appraisal fraud since raising the value of the home would increase the fee. We don't do that. Other improper practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 provide an unbiased determination of the home or property value.
When you engage James Earp Appraisal Service we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.