Honesty and Integrity: Moab Appraisal Inc.
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
As appraisers our chief obligation is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you require a copy of an appraisal report, you generally have to obtain it from your lender. Other obligations also include, accurate figures appropriate to the nature of the assignment, reaching and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Moab Appraisal Inc., we take these ethical responsibilities very seriously.
Moab Appraisal Inc. has worked hard for its track record for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will sometimes be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at Moab Appraisal Inc. you can rest assured that we adhere to that rule.
While busy with an appraisal, we follow the highest ethical standards possible. Doing assignments on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. 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 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 diligently follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.
With Moab Appraisal Inc., you can be assured of 100 percent ethical, honest service.