Honesty and Integrity: Advent Appraisals (763) 350-4816Appraising is typically a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have a great deal of obligations as appraisers, but our main duty is to our clients. Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client. It follows that appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As a homeowner, if you desire a copy of an appraisal report, you normally should request it via your lender and not the appraiser.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted 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 duties that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - something else Advent Appraisals (763) 350-4816 diligently adheres to.
Advent Appraisals (763) 350-4816 holds itself to the industry standards and rules set in place for ethics. We can't accept anything less from ourselves. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. That means we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. There's certainly a conflict of interest if an appraiser can report an unsubstantiated value with the reward of getting paid more money! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly describes 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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.
When you order an appraisal from Advent Appraisals (763) 350-4816, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for.