Honesty and Integrity: Binder and Associates (360) 573-8114
Generally, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have many responsibilities as appraisers but first and foremost we answer to our clients. More often than not, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like a copy of the appraisal document, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at Binder and Associates (360) 573-8114.
Binder and Associates (360) 573-8114 has an established track record for producing appraisals with the highest of ethics. Contact us today to learn more.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - something else Binder and Associates (360) 573-8114 takes very seriously.
Binder and Associates (360) 573-8114 holds itself to the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Working on orders that 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. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since increasing the value of the home would up the fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.
When you engage Binder and Associates (360) 573-8114 we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.