For honest and ethical appraisals, count on CRANE REAL ESTATE APPRAISALS
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.
An appraiser's chief obligation is to his or her client. Most of the time, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to obtain a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at CRANE REAL ESTATE APPRAISALS.
CRANE REAL ESTATE APPRAISALS has an established reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can sometimes have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else CRANE REAL ESTATE APPRAISALS diligently adheres to.
We only perform to the highest ethical standards possible. Doing orders on contingency fees is never an option. 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 perhaps the appraisal professions most important rule, because it would invite appraisal fraud since raising the estimate of the home would increase the fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.
As soon as you request an appraisal from CRANE REAL ESTATE APPRAISALS we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.