For honest and ethical appraisals, trust Bowers Real Estate & Appraisal Services
Appraising is, by and large, 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 called a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
An appraiser's main responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to obtain a copy of the appraisal document, you normally have to request it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and keeping 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 to heart.
Bowers Real Estate & Appraisal Services has an established reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least 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. Working on assignments that contingency fees is never an option. 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 probably the appraisal industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be defined 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," as well as other situations. We follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.
When you request 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.