For honest and ethical appraisals, count on Port City Appraisal Company (910) 796-0961By and large, appraising is a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
An appraiser's chief responsibility is to their client.
Most of the time, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Subsequently, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you want a copy of an appraisal report, you generally should request it from your lender and not the appraiser.
Appraisers will often be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary role is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - at Port City Appraisal Company (910) 796-0961 you can rest assured that we abide by that rule.
We only perform to the highest ethical standards possible. Doing orders where our fee is dependent on our value conclusion is not something we can consider. In other words, we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's an obvious conflict of interest if an appraiser can report an unsubstantiated value with the reward of getting paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.
With Port City Appraisal Company (910) 796-0961, you can be assured of 100 percent ethical, honest service.