Honesty and Integrity: Allbex Appraisal Service
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 in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
An appraiser's main obligation is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like to review the appraisal document, you normally have to get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Allbex Appraisal Service, we take these ethical responsibilities very seriously.
Allbex Appraisal Service has worked hard for its track record for providing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - something else Allbex Appraisal Service takes very seriously.
We require the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the value of the home would inflate the fee. We don't do that. Other improper practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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.
As soon as you order an appraisal from Allbex Appraisal Service we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.