Honesty and Integrity: Binder and Associates (360) 573-8114
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a lot of responsibilities as appraisers but above everything we answer to our clients. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you desire to review the appraisal document, you should get it through your lender. Other obligations also include, accurate sums appropriate to the parameters of the report, attaining and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at Binder and Associates (360) 573-8114.
Binder and Associates (360) 573-8114 has worked hard for its track record for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at Binder and Associates (360) 573-8114 you can rest assured that we stick to that rule.
We demand the highest ethical standards possible from ourselves. Working on assignments that contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite fraudulent practices since increasing the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as you order an appraisal from Binder and Associates (360) 573-8114 we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.