Barnes Appraisal Company upholds the utmost professional ethics
We think of our business as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
We have a lot of obligations as appraisers but above everything we answer to our clients. Normally, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you desire to review an appraisal report, you should request it from your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the report, attaining and maintaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Barnes Appraisal Company, we take these ethical responsibilities very to heart.
Barnes Appraisal Company has worked hard for its reputation for providing appraisals with the highest of ethics. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters 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 at least five years - something else Barnes Appraisal Company diligently adheres to.
When working on an order, we follow the highest ethical standards possible. 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 don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their 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 follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.
When you order an appraisal from Barnes Appraisal Company we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.