Honesty and Integrity: Evelyn Donica Appraisals
We consider our what we do a profession. The rigors of becoming 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 definitely be called a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
We have a great deal of responsibilities as appraisers but our main duty is to our clients. Most of the time, for a normal residential appraisal, 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 want to obtain a copy of the appraisal document, you generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and keeping 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 performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers may also have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty 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 duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Evelyn Donica Appraisals you can rest assured that we stick to that rule.
We meet or beat the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. We don't 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 appraisal fraud since raising the value of the home would inflate the their paycheck. We don't do that. Other improper practices may be defined 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 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 diligently follow these rules to the letter which means you can be assured we are doing everything we can 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 ethical handling of appraisals that we're known for.