Honesty and Integrity: Evelyn Donica Appraisals
We think of our job as a profession. 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 certainly be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
For an appraiser the chief responsibility is to their client. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to obtain a copy of an appraisal report, you generally have to get it through your lender. Other responsibilities also include, accurate sums appropriate to the scope of the assignment, attaining 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 an established track record for providing competent and ethically superior appraisals. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. 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 written parameters of the job.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - at Evelyn Donica Appraisals you can rest assured that we adhere to that rule.
We demand the highest ethical standards possible from ourselves. Doing orders on contingency fees is not something we can consider 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 no-no, because it would invite fraudulent practices since increasing the value of the home would raise the their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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," as well as other situations. We diligently follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.
As soon as you request an appraisal from Evelyn Donica Appraisals we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.