For honest and ethical appraisals, count on Daniel Todd Appraisal Services, LLC
Appraising is generally a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have quite a few responsibilities as appraisers but above everything we answer to our clients. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to get it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Daniel Todd Appraisal Services, LLC, we take these ethical responsibilities very to heart.
Daniel Todd Appraisal Services, LLC has worked hard for its reputation for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will frequently be required to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at Daniel Todd Appraisal Services, LLC you can rest assured that we stick to that rule.
We only perform to the highest ethical standards possible. Working on assignments that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other improper practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," "the amount of a value opinion," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.
When you engage Daniel Todd Appraisal Services, LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.