Honesty and Integrity: Canter Fields Real Estate AppraisalsAppraising is, by and large, a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.The appraiser's primary obligation is to their client. Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client. Certain details relating to an assignment are to be discussed exclusively with the appraiser's client. As a homeowner, if you would like a copy of an appraisal report, you generally should request it via your lender instead of the appraiser.
Appraisers can also have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Canter Fields Real Estate appraisals diligently adheres to. We only perform to the highest ethical standards possible. Accepting assignments based on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that inflating a value to achieve a bigger paycheck is unethical! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly 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", or "the amount of a value opinion" as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value. When you request an appraisal from Canter Fields Real Estate appraisals we'll make sure you're getting the professional service you expect along with the business principles we're known for. |
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