Owen Appraisal Service LLC maintains the highest professional ethics
We consider our our business a profession. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
For an appraiser the primary responsibility is to their client. More often than not, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you would like to review an appraisal report, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Owen Appraisal Service LLC, we take these ethical responsibilities very seriously.
Owen Appraisal Service LLC has worked hard for its track record for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers can also have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - at Owen Appraisal Service LLC you can rest assured that we adhere to that rule.
We only perform to the highest ethical standards possible. We never do assignments on contingency fees. That is, we don't 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 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 unethical practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 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 Owen Appraisal Service LLC, you can be assured of 100 percent ethical, honest service.