Honesty and Integrity: Evelyn Donica Appraisals
Appraising is, by and large, 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 in this day and age that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have a great deal of obligations as appraisers but first and foremost we answer to our clients. Typically, for a regular residential appraisal, 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 require a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, acquiring and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Evelyn Donica Appraisals, we take these ethical responsibilities very seriously.
Evelyn Donica Appraisals has worked hard for its reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can also have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited 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 rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else Evelyn Donica Appraisals takes very seriously.
Evelyn Donica Appraisals holds itself to the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. Doing assignments on contingency fees is not something we can consider That is, we can't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite appraisal fraud since raising the value of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined 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 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 be confident we are doing everything we can to objectively determine the home or property value.
With Evelyn Donica Appraisals, you can be assured of 100 percent ethical, professional service.