For honest and ethical appraisals, rely on LB Appraisals, Inc.
Generally, appraising a long term career. 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 definitely be considered 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 primary duty is to our clients. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. 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 require to review an appraisal report, you generally have to get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and sustaining an adequate 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 LB Appraisals, Inc..
LB Appraisals, Inc. has an established track record for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else LB Appraisals, Inc. diligently adheres to.
When creating reports, we follow the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we don'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 perhaps the appraisal industries biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics as the acceptance 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 doing everything we can to provide an unbiased determination of the home or property value.
With LB Appraisals, Inc., you can be assured of 100 percent ethical, honest service.