For honest and ethical appraisals, trust Columbus Appraisal Company, LLC
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have a great deal of responsibilities as appraisers but our main duty is to our clients. Most of the time, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to review the appraisal document, you should obtain it from your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the assignment, reaching and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Columbus Appraisal Company, LLC.
Columbus Appraisal Company, LLC has an established reputation for performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are clearly 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 written parameters of the order.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - at Columbus Appraisal Company, LLC you can rest assured that we adhere to that rule.
We require the highest ethical standards possible from ourselves. Doing orders on contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. 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 set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations 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," in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.
When you engage Columbus Appraisal Company, LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.