Bowers Real Estate & Appraisal Services upholds the utmost professional ethics
By and large, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
As appraisers our chief responsibility is to their client. Normally, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want to obtain a copy of the appraisal document, you should get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Bowers Real Estate & Appraisal Services, we take these ethical responsibilities very seriously.
Bowers Real Estate & Appraisal Services has worked hard for its reputation for providing 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. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else Bowers Real Estate & Appraisal Services takes very seriously.
When creating reports, we follow the highest ethical standards possible. We never do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Bowers Real Estate & Appraisal Services, you can be assured of 100 percent ethical, honest service.