BB Appraisals, LLC. maintains the utmost professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have a great deal of obligations as appraisers but above everything we answer to our clients. Most of the time, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to obtain a copy of an appraisal report, you generally have to get it from your lender. Other obligations also include, accurate calculations appropriate to the nature of the report, reaching and maintaining a certain 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 appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is only to those third 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 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 meet or beat the industry standards and rules set in place for ethics. We can't accept anything less 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 the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," as well as other situations. We follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.
With BB Appraisals, LLC., you won't have any doubts that you're receiving 100 percent ethical, professional service.