Honesty and Integrity: Appraising is a profession, and appraisers are professionals. Requirements to become 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 definitely be called a profession rather than a trade. As with any profession we are bound by ethical considerations.
We have a lot of obligations as appraisers, but first and foremost we answer to our clients. Normally, for a typical 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. It's important to know that a lot of elements pertaining to an assignment are to be discussed with the appraiser's client. So, as a homeowner, if you want to obtain a copy of the appraisal document, you normally should obtain it through your lender instead of the appraiser.
Other obligations include accurate figures appropriate to the nature of the report, acquiring and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. We take these ethical responsibilities very to heart.
Appraisers will regularly be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - you can rest assured that we adhere to that rule.
When creating reports, we follow the highest ethical standards possible. Working on orders based on contingency fees is never an option. In other words, we don't agree to do an appraisal report and collect the fee only if the loan closes. There's a definite conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also describes 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" in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to get you an accurate home or property value.
You won't have any doubts that you're receiving 100 percent ethical, professional service.
William Kozik | Phone: 708-476-0151 | Fax: 888-807-1521 | Email: [email protected]
We have a lot of obligations as appraisers, but first and foremost we answer to our clients. Normally, for a typical 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. It's important to know that a lot of elements pertaining to an assignment are to be discussed with the appraiser's client. So, as a homeowner, if you want to obtain a copy of the appraisal document, you normally should obtain it through your lender instead of the appraiser.
Other obligations include accurate figures appropriate to the nature of the report, acquiring and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. We take these ethical responsibilities very to heart.
Appraisers will regularly be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - you can rest assured that we adhere to that rule.
When creating reports, we follow the highest ethical standards possible. Working on orders based on contingency fees is never an option. In other words, we don't agree to do an appraisal report and collect the fee only if the loan closes. There's a definite conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also describes 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" in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to get you an accurate home or property value.
You won't have any doubts that you're receiving 100 percent ethical, professional service.
William Kozik | Phone: 708-476-0151 | Fax: 888-807-1521 | Email: [email protected]