Honesty and Integrity: Central Arizona Appraisers
Appraising is a profession, and appraisers are professionals. Requirements to become 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 called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
The appraiser's main obligation is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require a copy of an appraisal report, you normally have to request it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and maintaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Central Arizona Appraisers, we take these ethical responsibilities very seriously.
Central Arizona Appraisers has an established reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can frequently have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those 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 standards outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - something else Central Arizona Appraisers takes very seriously.
We require the highest professional integrity possible from ourselves. Working on assignments that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite appraisal fraud since raising the estimate of the home would increase the their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional societies 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 follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.
With Central Arizona Appraisers, you won't have any doubts that you're getting 100 percent ethical, honest service.