Central Arizona Appraisers upholds the highest professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.
For an appraiser the primary obligation is to his or her client. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you desire to review the appraisal document, you should request it through your lender. Other obligations also include, accurate figures appropriate to the nature of the report, attaining and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Central Arizona Appraisers, we take these ethical responsibilities very seriously.
Central Arizona Appraisers has worked hard for its track record for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will sometimes need to consider the interests of 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 responsibility is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - at Central Arizona Appraisers you can rest assured that we adhere to that rule.
Central Arizona Appraisers holds itself to the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to 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 perhaps the appraisal industries biggest no-no, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be established 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 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," as well as other situations. We follow these rules to the letter which means you can rest easy knowing 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 receiving 100 percent ethical, honest service.