Honesty and Integrity: Central Arizona Appraisers
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many responsibilities as appraisers but our main duty is to our clients. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to review the appraisal document, you normally have to get it through your lender. Other responsibilities also include, accurate sums appropriate to the nature of the assignment, acquiring and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is is what we do everyday at Central Arizona Appraisers.
Central Arizona Appraisers has an established track record for performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can regularly have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - at Central Arizona Appraisers you can rest assured that we abide by that rule.
Central Arizona Appraisers holds itself to the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we don'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 industries biggest taboo, because it would invite appraisal fraud since increasing the value of the home would increase the fee. We set ourselves to a higher standard. 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 defines unethical behavior as accepting 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 at ease knowing we are going above and beyond to objectively determine the home or property value.
When you engage Central Arizona Appraisers we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.