![]() Grass Appraisal Services upholds the utmost professional ethicsBy and large, appraising is a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
The appraiser's main responsibility is to their client.
Generally, 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 brought in to maintain independence.
Certain matters pertaining to an assignment are to be discussed exclusively with the appraiser's client. So, as
a homeowner, if you desire to obtain a copy of the appraisal document, you generally have to request it through your lender.
Appraisers may also have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role 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 job.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - something else Grass Appraisal Services takes very seriously. We require the highest professional integrity possible from ourselves. Doing orders based on contingency fees is not something we can consider. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. There's an obvious conflict of interest if an appraiser can report a greater value and then get paid more money! Finally, the Uniform Standards of Professional Appraisal Practice clearly 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", or "the amount of a value opinion" as well as other situations. We diligently 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. With Grass Appraisal Services, you can be assured of 100 percent ethical, honest service. |