For honest and ethical appraisals, rely on Bowers Real Estate & Appraisal Services
We consider our what we do a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a lot of obligations as appraisers but our main duty is to our clients. 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 should get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Bowers Real Estate & Appraisal Services, we take these ethical responsibilities very to heart.
Bowers Real Estate & Appraisal Services has an established track record for providing 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 buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - something else Bowers Real Estate & Appraisal Services makes a part of their standard routine.
When creating reports, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we don'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 industries biggest taboo, because it would invite fraudulent practices since increasing the value of the home would up 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 defines a violation in ethics 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 follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.
With Bowers Real Estate & Appraisal Services, you won't have any doubts that you're receiving 100 percent ethical, honest service.