Academy Appraisal, Inc. upholds the utmost professional ethicsGenerally, appraising is a long term career. Requirements to become a licensed appraiser have increased more than ever before. 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 must follow strict ethical considerations.
An appraiser's primary responsibility is to their client.
More often than not, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It's important to know that many details relating to an assignment are to be shared exclusively with the appraiser's client. As
a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to get it from your lender and not the appraiser.
Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at Academy Appraisal, Inc. you can rest assured that we abide by that rule.
We meet or exceed the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. Accepting orders based on contingency fees is never an option. That means we can't agree to do an appraisal report and collect the fee only if the loan closes. There's an obvious conflict of interest if an appraiser can report an unsubstantiated value and then get paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "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", or "the amount of a value opinion" in addition to other situations We 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 Academy Appraisal, Inc. , you can be assured of 100 percent ethical, honest service.