Honesty and Integrity: Appraise Colorado Inc
Appraising is typically a long term career. 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 certainly be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
As appraisers our chief obligation is to their client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require a copy of an appraisal report, you generally have to obtain it through your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, acquiring and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Appraise Colorado Inc, we take these ethical responsibilities very to heart.
Appraise Colorado Inc has worked hard for its reputation for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will frequently be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - something else Appraise Colorado Inc takes very seriously.
We demand the highest ethical standards possible from ourselves. Doing assignments on contingency fees is not something we can consider That is, we are not able to 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 biggest no-no, because it would invite fraudulent practices since raising the value of the home would raise the fee. We don't do that. Other unprofessional practices may be defined 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 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 follow these rules to the letter which means you can be at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.
When you order an appraisal from Appraise Colorado Inc we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.