For honest and ethical appraisals, trust Bowers Real Estate & Appraisal Services
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
For an appraiser the primary responsibility is to their client. More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want to obtain a copy of an appraisal report, you generally have to obtain it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, reaching and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Bowers Real Estate & Appraisal Services.
Bowers Real Estate & Appraisal Services has an established track record for producing competent and ethically superior appraisals. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of 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 written parameters of the job.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - at Bowers Real Estate & Appraisal Services you can rest assured that we abide by that rule.
We meet or beat the industry standards and guidelines set in place for professional behavior. We won't accept anything less from ourselves. Doing assignments on contingency fees is not something we can consider That is, we can't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite appraisal fraud since raising the value of the home would increase the their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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 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 Bowers Real Estate & 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.