For honest and ethical appraisals, trust Bowers Real Estate & Appraisal Services
Appraising is typically a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. As with any profession we have a strict ethical code.
As appraisers our main obligation is to their client. Most of the time, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to review the appraisal document, you normally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is standard operating procedure for us at Bowers Real Estate & Appraisal Services.
Bowers Real Estate & Appraisal Services has worked hard for its track record for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can sometimes have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Bowers Real Estate & Appraisal Services diligently adheres to.
We meet or beat the industry standards and rules set in place for ethics. We refuse to accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite appraisal fraud since increasing the value of the home would raise the their paycheck. 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 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," in addition to other situations We diligently follow these rules to the letter which means you can be assured we are working hard to objectively determine 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.