Honesty and Integrity: Columbus Appraisal Company, LLC
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we have a strict ethical code.
As appraisers our primary obligation is to his or her client. Most of the time, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to obtain a copy of the appraisal document, you normally have to obtain it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, attaining and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Columbus Appraisal Company, LLC, we take these ethical responsibilities very to heart.
Columbus Appraisal Company, LLC has worked hard for its reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can regularly have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - at Columbus Appraisal Company, LLC you can rest assured that we abide by that rule.
We demand the highest ethical standards possible from ourselves. Working on assignments that contingency fees is never an option. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
With Columbus Appraisal Company, LLC, you won't have any doubts that you're receiving 100 percent ethical, professional service.