![]() Phillip W. Van Vonderen maintains the highest professional ethics.Appraising is generally a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
An appraiser's primary obligation is to their client.
Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has contracted in order to maintain independence.
It is important to know that a lot of matters relating to an assignment are to be shared exclusively with the appraiser's client. So, as
a homeowner, if you desire a copy of an appraisal report, you normally should obtain it from your lender.
Appraisers may sometimes have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiserReliable Valuation fiduciary duty is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - at Straightline Appraisal you can rest assured that we adhere to that rule. When busy with an assignment, we follow the highest ethical standards possible. Accepting assignments where our fee is dependent on our value conclusion is not something we can consider. That means we are not able to agree to do an appraisal report and collect the fee only if the loan closes. There is an obvious conflict of interest if an appraiser can report an unsubstantiated value with the reward of getting paid more money! Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly describes 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", 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 provide an unbiased determination of the home or property value. When you request an appraisal from Straightline Appraisal, we'll make sure you're getting the professional service you expect along with the business principles we're known for. |