Nancy J. Shilling Real Estate Appraisals upholds the highest professional ethics
Appraising is typically a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we have a strict ethical code.
We have many responsibilities as appraisers but above everything we answer to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to review an appraisal report, you generally have to obtain it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, reaching and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Nancy J. Shilling Real Estate Appraisals, we take these ethical responsibilities very seriously.
Nancy J. Shilling Real Estate Appraisals has an established reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - something else Nancy J. Shilling Real Estate Appraisals makes a part of their standard routine.
When creating reports, we follow the highest ethical standards possible. Working on orders that 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. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the value of the home would raise the their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations to which an 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.
With Nancy J. Shilling Real Estate Appraisals, you won't have any doubts that you're getting 100 percent ethical, professional service.