 Honesty and Integrity: Premier Appraisal Services, LLCWe consider what we do as a profession. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
We have many obligations as appraisers, but our main duty is to our clients.
Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has brought in to maintain independence.
Thereon, appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you desire to obtain a copy of an appraisal report, you normally have to request it from your lender and not the appraiser.
Appraisers can sometimes have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - something else Premier Appraisal Services, LLC diligently adheres to. We demand the highest ethical standards possible from ourselves. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. There's a definite conflict of interest if an appraiser can report an unsubstantiated value with the reward of getting paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "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", or "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 going above and beyond to objectively determine the home or property value. With Premier Appraisal Services, LLC, you won't have any doubts that you're getting 100 percent ethical, honest service. |
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