For honest and ethical appraisals, count on TEXAS REAL ESTATE APPRAISERSWe think of our business as a profession. The rigors of becoming a licensed/certified appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have a lot of responsibilities as appraisers, but our main duty is to our clients. Most of the time, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has brought in to maintain independence, such as an AMC. Appraisers have certain duties of privacy to their clients, plus many rules and regulations regulating with whom we share information. As a homeowner, if you want to review the appraisal document, you generally should get it via your lender.
Appraisers may also have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Generally 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 things in the framework of the assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else TEXAS REAL ESTATE APPRAISERS diligently adheres to.
We only perform to the highest ethical standards possible. Working on orders where our fee is dependent on our value conclusion is not something we can consider. In other words, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing! Anyone should be able to see that inflating a value to achieve what amounts to a higher paycheck is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also defines 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", or "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 doing everything we can to get you an accurate home or property value.
As soon as you engage TEXAS REAL ESTATE APPRAISERS, we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for.