![]() Certified Appraisal Group. LLC maintains the utmost professional ethicsWe think of what we do as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
We have quite a few responsibilities as appraisers, but above everything we answer to our clients.
More often than not, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence.
Consequently, appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you desire a copy of the appraisal document, you normally have to request it from your lender and not the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - at Certified Appraisal Group. LLC you can rest assured that we stick to that rule. We demand the highest professional integrity possible from ourselves. Accepting orders where our fee is dependent on our value conclusion is never an option. In other words, we are not able to agree to do an appraisal report and get paid only if the loan closes. It should be obvious that inflating a value to achieve essentially a higher fee is unethical! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice clearly states 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be confident we are working hard to get you an accurate home or property value. With Certified Appraisal Group. LLC, you can be assured of 100 percent ethical, honest service. |
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