For honest and ethical appraisals, count on R J Neild Real Estate Appraisals
Generally, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we have a strict ethical code.
The appraiser's chief responsibility is to their client. More often than not, for a regular residential appraisal, 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 want to review the appraisal document, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at R J Neild Real Estate Appraisals, we take these ethical responsibilities very seriously.
R J Neild Real Estate Appraisals has an established reputation for producing appraisals with the highest of ethics. To learn more Contact us
Appraisers will sometimes need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are defined in 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 written parameters of the job.
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 - at R J Neild Real Estate Appraisals you can rest assured that we stick to that rule.
When busy with an order, we follow the highest ethical standards possible. We never do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite appraisal fraud since raising the value of the home would up the their paycheck. We don't do that. Other improper practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
With R J Neild Real Estate Appraisals, you won't have any doubts that you're getting 100 percent ethical, professional service.