Crest Appraisal Services maintains the highest professional ethicsWe consider our our business a profession. Requirements to become 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 certainly be called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations. As appraisers our primary responsibility is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to obtain a copy of an appraisal report, you should obtain it from your lender. Other obligations also include, accurate sums appropriate to the nature of the assignment, attaining and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Crest Appraisal Services, we take these ethical responsibilities very to heart. Crest Appraisal Services has worked hard for its reputation for providing appraisals with the highest of ethics. Contact us today to learn more. There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty 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. There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else Crest Appraisal Services diligently adheres to. We only perform to the highest ethical standards possible. Working on assignments that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their 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," as well as other situations. We diligently follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value. When you engage Crest Appraisal Services we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for. |