Jeff Richwall Appraisal Services maintains the highest professional ethics
Generally, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have many responsibilities as appraisers but above everything we answer to our clients. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require a copy of an appraisal report, you generally have to get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Jeff Richwall Appraisal Services, we take these ethical responsibilities very seriously.
Jeff Richwall Appraisal Services has an established reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers may sometimes have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework 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 - something else Jeff Richwall Appraisal Services takes very seriously.
When creating reports, we follow the highest ethical standards possible. We never do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite appraisal fraud since increasing the value of the home would increase the their paycheck. We don't do that. Other improper 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 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," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
With Jeff Richwall Appraisal Services, you won't have any doubts that you're getting 100 percent ethical, professional service.