Evelyn Donica Appraisals maintains the utmost professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
We have a lot of responsibilities as appraisers but our chief duty is to our clients. 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 to obtain a copy of an appraisal report, you normally have to request it from your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the assignment, attaining and keeping a particular 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 Evelyn Donica Appraisals.
Evelyn Donica Appraisals has worked hard for its reputation for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers can also have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - something else Evelyn Donica Appraisals takes very seriously.
We meet or beat the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. Other unprofessional practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 going above and beyond to objectively determine the home or property value.
As soon as you engage Evelyn Donica Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.