Drake Appraisal Service maintains the utmost professional ethics
By and large, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we are bound by ethical considerations.
We have quite a few responsibilities as appraisers but our primary duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to review an appraisal report, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Drake Appraisal Service, we take these ethical responsibilities very seriously.
Drake Appraisal Service has worked hard for its track record for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will frequently be required to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - at Drake Appraisal Service you can rest assured that we stick to that rule.
We demand the highest professional integrity possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other improper 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 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," in addition to other situations We diligently 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 Drake Appraisal Service, you won't have any doubts that you're getting 100 percent ethical, honest service.