For honest and ethical appraisals, rely on BB Appraisals, LLC.
We consider our what we do a profession. The rigors of becoming a licensed appraiser have increased more 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 are bound by an ethical code.
We have a lot of responsibilities 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 have certain duties of privacy to their clients, and as a homeowner, if you would like to obtain a copy of the appraisal document, you should get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at BB Appraisals, LLC., we take these ethical responsibilities very to heart.
BB Appraisals, LLC. has an established track record for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else BB Appraisals, LLC. takes very seriously.
We require the highest ethical standards possible from ourselves. Doing orders on contingency fees is not something we can consider 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 invite appraisal fraud since raising the estimate of the home would increase the their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional societies that the 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 at ease knowing we are working hard to provide an unbiased determination of the home or property value.
With BB Appraisals, LLC., you won't have any doubts that you're receiving 100 percent ethical, honest service.