Honesty and Integrity: P.M. Appraisals, Inc.
By and large, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult 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. In our field, as with any profession, we have a strict ethical code.
For an appraiser the main responsibility is to their client. Normally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you require to obtain a copy of the appraisal document, you should request it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at P.M. Appraisals, Inc., we take these ethical responsibilities very to heart.
P.M. Appraisals, Inc. has an established reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - something else P.M. Appraisals, Inc. makes a part of their standard routine.
P.M. Appraisals, Inc. holds itself to the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics as the acceptance 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 diligently 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.
With P.M. Appraisals, Inc., you can be assured of 100 percent ethical, professional service.