For honest and ethical appraisals, count on D&D Appraisals, LLC.
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a great deal of responsibilities as appraisers but first and foremost we answer to our clients. More often than not, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to review an appraisal report, you should obtain it from your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, attaining and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at D&D Appraisals, LLC., we take these ethical responsibilities very seriously.
D&D Appraisals, LLC. has an established reputation for performing appraisals with the highest of ethics. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - something else D&D Appraisals, LLC. takes very seriously.
We meet or beat the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. We never 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 industries most important rule, because it would invite fraudulent practices since raising the value of the home would raise the their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are doing everything we can to objectively determine the home or property value.
When you engage D&D Appraisals, LLC. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.