Shamrock Appraisals, Inc. upholds the highest professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have a lot of obligations as appraisers but our chief duty is to our clients. Generally, in residential practice, 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 a copy of an appraisal report, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching 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 reputation for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can also have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical duties 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 adhere to that rule.
Shamrock Appraisals, Inc. holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Doing assignments on contingency fees is never an option. That is, we can'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 perhaps the appraisal professions biggest taboo, because it would invite fraudulent practices since raising the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "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 doing everything we can to objectively determine the home or property value.
As soon as you request an appraisal from Shamrock Appraisals, Inc. we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.