For honest and ethical appraisals, trust Big Island Appraisal Services
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. 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 are bound by an ethical code.
We have a lot of responsibilities as appraisers but our chief duty is to our clients. More often than not, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire a copy of an appraisal report, you should get it from your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the report, reaching and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Big Island Appraisal Services, we take these ethical responsibilities very to heart.
Big Island Appraisal Services has worked hard for its reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Big Island Appraisal Services you can rest assured that we stick to that rule.
We meet or beat the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We don't do that. 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 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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as you engage Big Island Appraisal Services we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.