Honesty and Integrity: Performance Appraisals Inc.
We consider our our business a profession. 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 unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have quite a few obligations as appraisers but first and foremost we answer to our clients. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like a copy of the appraisal document, you normally have to request it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is just normal course of business for us at Performance Appraisals Inc..
Performance Appraisals Inc. has worked hard for its reputation for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers can also have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those 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 backup their work files for at least five years - something else Performance Appraisals Inc. diligently adheres to.
We meet or beat the industry standards and rules set in place for ethics. We refuse to accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee 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 raising the value of the home would inflate the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.
As soon as you order an appraisal from Performance Appraisals Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.