For honest and ethical appraisals, count on Denlinger Appraisal Associates
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 definitely be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.
For an appraiser the chief obligation is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you require to review an appraisal report, you generally have to obtain it through your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, reaching and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Denlinger Appraisal Associates, we take these ethical responsibilities very seriously.
Denlinger Appraisal Associates has worked hard for its reputation for producing appraisals with the highest of ethics. To learn more Contact us
Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser is aware of, 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 - at Denlinger Appraisal Associates you can rest assured that we adhere to that rule.
Denlinger Appraisal Associates holds itself to the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. 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 diligently follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value.
As soon as you engage Denlinger Appraisal Associates 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.