Honesty and Integrity: Moab Appraisal Inc.
By and large, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we have a strict ethical code.
We have many responsibilities as appraisers but our primary duty is to our clients. More often than not, in residential practice, 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 want a copy of an appraisal report, you normally have to request it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping a certain 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 an established reputation for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers will often be required to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else Moab Appraisal Inc. takes very seriously.
We meet or beat the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we can't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would invite fraudulent practices since raising the estimate of the home would raise the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations 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," in addition to other situations We follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.
When you order an appraisal from Moab Appraisal Inc. we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.