![]() Jamestown C.A.R.E.S. LLC upholds the utmost professional ethicsAppraising is a profession, and appraisers are professionals. The rigors of becoming 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 definitely be called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
An appraiser's primary responsibility is to their client.
Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
It's important to know that many details relating to an assignment are to be shared with the appraiser's client. So, as
a homeowner, if you would like a copy of the appraisal document, you normally have to request it via your lender instead of the appraiser.
Appraisers can frequently have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - at Jamestown C.A.R.E.S. LLC you can rest assured that we abide by that rule. We meet or exceed the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. Working on assignments where our fee is dependent on our value conclusion is never an option. That means we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. It should be obvious that inflating a value to achieve essentially a higher paycheck is unethical! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also describes 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", 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 assured we are working hard to provide an unbiased determination of the home or property value. With Jamestown C.A.R.E.S. LLC, you won't have any doubts that you're getting 100 percent ethical, professional service. |
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