For honest and ethical appraisals, count on Nancy J. Shilling Real Estate Appraisals
Appraising is generally a long term career. The rigors of becoming a licensed appraiser have become more difficult 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 are bound by an ethical code.
We have many responsibilities as appraisers but our chief duty is 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 desire to obtain a copy of an appraisal report, you should obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, acquiring and maintaining an adequate 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 worked hard for its track record for producing competent and ethically superior appraisals. To learn more Contact us
Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - at Nancy J. Shilling Real Estate Appraisals you can rest assured that we stick to that rule.
When busy with an order, we follow the highest ethical standards possible. We don't 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 can't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.
With Nancy J. Shilling Real Estate Appraisals, you won't have any doubts that you're receiving 100 percent ethical, professional service.