Columbus Appraisal Company, LLC upholds the utmost professional ethics
By and large, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
An appraiser's main obligation is to their client. 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 require to review an appraisal report, you should request it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Columbus Appraisal Company, LLC, we take these ethical responsibilities very to heart.
Columbus Appraisal Company, LLC has an established track record for producing competent and ethically superior appraisals. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. 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 duties outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - at Columbus Appraisal Company, LLC you can rest assured that we abide by that rule.
We only perform to the highest ethical standards possible. Doing orders on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers increase 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 to which an 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," 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.