Performance Appraisals Inc. upholds the utmost professional ethics
We consider our our job a profession. Requirements to become 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 dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have many obligations as appraisers but our primary duty is to our clients. Most of the time, for a regular 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 would like to obtain a copy of an appraisal report, you should get it through your lender. Other obligations also include, accurate figures appropriate to the parameters of the report, attaining and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is just normal course of business for us at Performance Appraisals Inc..
Performance Appraisals Inc. has an established track record for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - at Performance Appraisals Inc. you can rest assured that we abide by that rule.
We demand the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we can't 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 perhaps the appraisal industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.
When you order an appraisal from Performance Appraisals Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.