![]() Hardy Appraisal Service maintains the highest professional ethicsAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
The appraiser's main obligation is to their client.
Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
Thereon, appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you desire to review an appraisal report, you generally should request it from your lender instead of the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - at Hardy Appraisal Service you can rest assured that we stick to that rule. We require the highest ethical standards possible from ourselves. Accepting assignments based on contingency fees is not something we can consider. That means we don't agree to do an appraisal report and collect the fee only if the loan closes. There's an obvious conflict of interest if an appraiser can report a greater value and then get paid more money! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also defines 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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are working hard to get you an accurate home or property value. When you engage Hardy Appraisal Service, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |