BB Appraisals, LLC. upholds the highest professional ethics
Typically, appraising a long term career. 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 dubbed a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
As appraisers our primary obligation is to their client. Generally, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to obtain a copy of the appraisal document, you generally have to request it from your lender. Other obligations also include, accurate sums appropriate to the parameters of the assignment, acquiring and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at BB Appraisals, LLC., we take these ethical responsibilities very to heart.
BB Appraisals, LLC. has worked hard for its reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers may sometimes have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those third parties who the appraiser knows, 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 whom we share information. For example, appraisers must store their work files for at least five years - at BB Appraisals, LLC. you can rest assured that we abide by that rule.
We only perform to the highest ethical standards possible. Working on assignments that contingency fees is never an option. 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 invite appraisal fraud since raising the estimate of the home would inflate the their paycheck. We don't do that. Other improper practices may be established 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 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 diligently 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 can be assured of 100 percent ethical, honest service.