Moab Appraisal Inc. upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. 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 unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many obligations as appraisers but first and foremost we answer to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to obtain a copy of the appraisal document, you should request it from your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the assignment, acquiring and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is standard operating procedure for us at Moab Appraisal Inc..
Moab Appraisal Inc. has worked hard for its reputation for producing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will regularly need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in 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 written parameters of the order.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else Moab Appraisal Inc. makes a part of their standard routine.
When busy with an assignment, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably 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 set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 confident we are working hard to provide an unbiased determination of the home or property value.
With Moab Appraisal Inc., you won't have any doubts that you're getting 100 percent ethical, honest service.