Bowers Real Estate & Appraisal Services upholds the highest professional ethics
We consider our our job a profession. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have many responsibilities as appraisers but our chief duty is to our clients. Normally, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and maintaining a respectable 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 Bowers Real Estate & Appraisal Services.
Bowers Real Estate & Appraisal Services has an established track record for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers may sometimes have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - at Bowers Real Estate & Appraisal Services you can rest assured that we stick to that rule.
We demand the highest professional integrity possible from ourselves. 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 no-no, because it would invite appraisal fraud since increasing the estimate of the home would raise the fee. We don't do that. Other improper practices may be established by state law or professional societies 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," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as you order an appraisal from Bowers Real Estate & Appraisal Services we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.