Honesty and Integrity: Shamrock Appraisals, Inc.
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have quite a few obligations as appraisers but our main duty is to our clients. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal. 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 normally have to request it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Shamrock Appraisals, Inc., we take these ethical responsibilities very to heart.
Shamrock Appraisals, Inc. has an established track record for performing competent and ethically superior appraisals. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - at Shamrock Appraisals, Inc. you can rest assured that we stick to that rule.
We require the highest professional integrity possible from ourselves. Working on orders that contingency fees is never an option. That is, we are not able to 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 perhaps the appraisal industries biggest no-no, because it would invite fraudulent practices since increasing the estimate of the home would increase the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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," in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.
With Shamrock Appraisals, Inc., you won't have any doubts that you're getting 100 percent ethical, professional service.