![]() Aspen Appraisal Services maintains the highest professional ethicsAppraising is typically a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we are bound by an ethical code.
We have many responsibilities as appraisers, but our primary duty is to our clients.
Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
Certain details pertaining to an assignment are to be shared with the appraiser's client. So, as
a homeowner, if you desire to obtain a copy of an appraisal report, you normally have to request it via your lender and not the appraiser.
Appraisers will often be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - something else Aspen Appraisal Services diligently adheres to. We meet or exceed the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. Accepting assignments based on contingency fees is not something we can consider. In other words, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. There's an obvious conflict of interest if an appraiser can report a greater value and then get paid more money! Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly describes a violation in ethics 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to get you an accurate home or property value. With Aspen Appraisal Services, you can be assured of 100 percent ethical, honest service. |