Linday's Appraisals LLC upholds the highest professional ethicsAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we have a strict ethical code.
An appraiser's chief obligation is to their client.
Normally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has contracted in order to maintain independence.
Appraisers are typically limited to only disclosing their findings to their clients, so as
a homeowner, if you would like a copy of an appraisal report, you normally should obtain it via your lender instead of the appraiser.
Appraisers can frequently have fiduciary obligations 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 role is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Linday's Appraisals LLC you can rest assured that we abide by that rule. We meet or exceed the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. Working on assignments based on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. There's a definite conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly describes 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 diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to get you an accurate home or property value. As soon as you request an appraisal from Linday's Appraisals LLC, we'll make sure you're getting the professional service you expect along with the business principles we're known for. |