For honest and ethical appraisals, trust Carolina Quality AppraisalsBy and large, appraising is a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many responsibilities as appraisers, but above everything we answer to our clients.
Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Appraisers have certain duties of privacy to their clients, plus many rules and regulations controlling with whom we share information. So, as
a homeowner, if you desire a copy of an appraisal report, you generally should request it through your lender.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is only to those third 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 clients and others. For example, appraisers must backup their work files for a minimum of five years - at Carolina Quality Appraisals you can rest assured that we abide by that rule.
We meet or exceed the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Accepting assignments based on contingency fees is not something we can consider. In other words, 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 higher fee is unethical!
Finally, the Uniform Standards of Professional Appraisal Practice explicitly 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 rest easy knowing we are working hard to objectively determine the home or property value.
With Carolina Quality Appraisals, you can be assured of 100 percent ethical, professional service.