 New Age Appraisal Corp maintains the highest professional ethicsAppraising 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 unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
An appraiser's primary obligation is to their client.
Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Consequently, appraisers are typically limited to only disclosing their findings to their clients, so as
a homeowner, if you would like to obtain a copy of an appraisal report, you normally should get it through your lender instead of the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at New Age Appraisal Corp you can rest assured that we adhere to that rule. We require the highest ethical standards possible from ourselves. Doing assignments based on contingency fees is not something we can consider. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. It should be obvious that inflating a value to achieve essentially a higher fee is unethical! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also defines unethical behavior 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value. As soon as you engage New Age Appraisal Corp, we'll make sure you're getting the professional service you deserve along with the business principles we're known for. |
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