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 before. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
For an appraiser the main responsibility is to their client. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you want to review the appraisal document, you normally have to get it through your lender. Other obligations also include, accurate figures appropriate to the nature of the assignment, acquiring and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at Shamrock Appraisals, Inc..
Shamrock Appraisals, Inc. has an established reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at Shamrock Appraisals, Inc. you can rest assured that we abide by that rule.
When creating reports, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, 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 defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," as well as other situations. We 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.
When you engage Shamrock Appraisals, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.