For honest and ethical appraisals, count on Evelyn Donica Appraisals
We think of our business as a profession. 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 have a strict ethical code.
The appraiser's chief responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to review the appraisal document, you normally have to request it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and maintaining an adequate 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 Evelyn Donica Appraisals.
Evelyn Donica Appraisals has an established track record for producing competent and ethically superior appraisals. To learn more Contact us
Appraisers will regularly need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - something else Evelyn Donica Appraisals diligently adheres to.
We demand the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to 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 fraudulent practices since increasing the value of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations to which an 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 at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Evelyn Donica Appraisals, you won't have any doubts that you're receiving 100 percent ethical, professional service.