For honest and ethical appraisals, count on Deer Creek Appraisals
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we are bound by ethical considerations.
We have many obligations as appraisers but our primary duty is to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you want to review an appraisal report, you normally have to get it from your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the assignment, acquiring and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Deer Creek Appraisals, we take these ethical responsibilities very to heart.
Deer Creek Appraisals has worked hard for its reputation for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers may often have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - at Deer Creek Appraisals you can rest assured that we adhere to that rule.
While busy with an appraisal, we follow the highest ethical standards possible. Doing assignments on contingency fees is not something we can consider That is, we can'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 probably the appraisal professions most important rule, because it would invite appraisal fraud since raising the value of the home would inflate the their paycheck. We don't do that. 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 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," in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.
As soon as you engage Deer Creek 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.