For honest and ethical appraisals, count on NC Appraisal Center
By and large, appraising a long term career. 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 called a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
We have a lot of responsibilities as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you want to review an appraisal report, you should get it through your lender. Other responsibilities also include, accurate figures appropriate to the nature 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 just normal course of business for us at NC Appraisal Center.
NC Appraisal Center has an established track record for completing competent and ethically superior appraisals. To learn more Contact us
Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - at NC Appraisal Center you can rest assured that we adhere to that rule.
We demand the highest professional integrity possible from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite appraisal fraud since raising the estimate of the home would raise the fee. We set ourselves to a higher standard. 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 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 follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.
With NC Appraisal Center, you can be assured of 100 percent ethical, honest service.