For honest and ethical appraisals, rely on Shamrock Appraisals, Inc.
By and large, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
The appraiser's primary responsibility is to their client. More often than not, for a typical residential appraisal, 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 want to review an appraisal report, you should obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and sustaining a certain 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 producing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will regularly need to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - something else Shamrock Appraisals, Inc. makes a part of their standard routine.
We meet or beat the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. We don't do assignments on contingency fees. 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 probably the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (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," "the amount of a value opinion," as well as other situations. We follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.
When you order an appraisal from 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.