For honest and ethical appraisals, rely on Phoenix Valuations, LLC
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days 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 a lot of obligations as appraisers but above everything we answer to our clients. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require a copy of an appraisal report, you should obtain it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, attaining and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at Phoenix Valuations, LLC.
Phoenix Valuations, LLC has an established reputation for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty 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 standards that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - at Phoenix Valuations, LLC you can rest assured that we adhere to that rule.
When busy with an order, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. 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 perhaps the appraisal industries most important rule, because it would invite appraisal fraud since raising the estimate of the home would up the their paycheck. We don't do that. Other unprofessional 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 working hard to objectively determine the home or property value.
With Phoenix Valuations, LLC, you can be assured of 100 percent ethical, professional service.