Crest Appraisal Services upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we have a strict ethical code.
For an appraiser the primary obligation is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like a copy of an appraisal report, you normally have to get it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the assignment, reaching and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Crest Appraisal Services, we take these ethical responsibilities very seriously.
Crest Appraisal Services has worked hard for its reputation for providing appraisals with the highest of ethics. To learn more Contact us
Appraisers will often be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty 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 order.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - at Crest Appraisal Services you can rest assured that we stick to that rule.
When working on an appraisal, we follow the highest ethical standards possible. We have a responsibility not to 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 perhaps the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would up the fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.
When you request an appraisal from Crest Appraisal Services 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.