For honest and ethical appraisals, count on Crescent Appraisal Group, Inc.
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
An appraiser's primary responsibility is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you want a copy of the appraisal document, you normally have to get it from your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, acquiring and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Crescent Appraisal Group, Inc., we take these ethical responsibilities very to heart.
Crescent Appraisal Group, Inc. has worked hard for its reputation for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can sometimes have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - at Crescent Appraisal Group, Inc. you can rest assured that we stick to that rule.
We require the highest professional integrity possible from ourselves. Doing orders on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite appraisal fraud since increasing the value of the home would increase the fee. We don't do that. Other unprofessional practices may be defined by state law or professional organizations to which an 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 diligently follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as you engage Crescent Appraisal Group, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.