Terry Higgins Appraisals maintains the highest professional ethics
We consider our our job a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
For an appraiser the chief responsibility is to his or her client. More often than not, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to obtain a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, accurate sums appropriate to the scope of the report, attaining and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Terry Higgins Appraisals, we take these ethical responsibilities very to heart.
Terry Higgins Appraisals has worked hard for its track record for producing competent and ethically superior appraisals. To learn more Contact us
Appraisers can sometimes have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Terry Higgins Appraisals you can rest assured that we stick to that rule.
We require the highest ethical standards possible from ourselves. Doing orders on 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 perhaps the appraisal professions biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. 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 assured we are working hard to provide an unbiased determination of the home or property value.
With Terry Higgins Appraisals, you can be assured of 100 percent ethical, professional service.