Honesty and Integrity: BB Appraisals, LLC.
We consider our our job a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
For an appraiser the chief responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to obtain a copy of an appraisal report, you should get it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the assignment, acquiring and maintaining an adequate 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 seriously.
BB Appraisals, LLC. has an established track record for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will regularly be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - something else BB Appraisals, LLC. diligently adheres to.
We demand the highest professional integrity possible from ourselves. Doing assignments on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We don't do that. 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 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 rest easy knowing we are going above and beyond to objectively determine the home or property value.
When you engage BB Appraisals, LLC. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.