Honesty and Integrity: Binder and Associates (360) 573-8114
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
We have quite a few obligations as appraisers but first and foremost we answer to our clients. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to review an appraisal report, you generally have to request it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Binder and Associates (360) 573-8114, we take these ethical responsibilities very seriously.
Binder and Associates (360) 573-8114 has worked hard for its track record for performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will frequently be required to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted 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 whom we share information. For example, appraisers must keep their work files for at least five years - at Binder and Associates (360) 573-8114 you can rest assured that we adhere to that rule.
We require the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite fraudulent practices since raising the estimate of the home would raise the their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.
As soon as you engage Binder and Associates (360) 573-8114 we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.