Moab Appraisal Inc. maintains the utmost professional ethics
We think of what we do as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we have a strict ethical code.
The appraiser's primary responsibility is to his or her client. More often than not, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to obtain a copy of an appraisal report, you should get it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Moab Appraisal Inc., we take these ethical responsibilities very to heart.
Moab Appraisal Inc. has worked hard for its reputation for providing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is only 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 duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Moab Appraisal Inc. you can rest assured that we stick to that rule.
Moab Appraisal Inc. holds itself to the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. Working on orders that 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 probably the appraisal professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We don't do that. 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 defines unethical behavior 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 assured we are going above and beyond to provide an unbiased determination of the home or property value.
With Moab Appraisal Inc., you won't have any doubts that you're receiving 100 percent ethical, honest service.