Honesty and Integrity: Anderson Appraisal, LLC
We think of our business as a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can certainly be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have many obligations as appraisers but above everything we answer to our clients. More often than not, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. 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 require to obtain a copy of an appraisal report, you normally have to get it through your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the report, reaching and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Anderson Appraisal, LLC.
Anderson Appraisal, LLC has an established reputation for completing competent and ethically superior appraisals. To learn more Contact us
Appraisers will frequently be required to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - at Anderson Appraisal, LLC you can rest assured that we abide by that rule.
We demand the highest ethical standards possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite fraudulent practices since increasing the estimate of the home would increase the their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as you engage Anderson Appraisal, LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.