Honesty and Integrity: Amis AppraisalsAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have a great deal of obligations as appraisers, but first and foremost we answer to our clients.
Most of the time, 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 retained to maintain independence.
Certain elements relating to an assignment are to be discussed exclusively with the appraiser's client. As
a homeowner, if you desire to review the appraisal document, you generally have to obtain it via your lender.
Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - something else Amis Appraisals takes very seriously.
While busy with an appraisal, we follow the highest ethical standards possible. Accepting orders where our fee is dependent on our value conclusion is never an option. That means we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. Anyone should be able to see that inflating a value to achieve what amounts to a bigger fee is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also states 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 follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.
As soon as you engage Amis Appraisals, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for.