Barnes Appraisal Company upholds the highest professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have a great deal of responsibilities as appraisers but our primary duty is to our clients. More often than not, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want to obtain a copy of the appraisal document, you generally have to obtain it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the report, attaining and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Barnes Appraisal Company, we take these ethical responsibilities very seriously.
Barnes Appraisal Company has an established track record for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can sometimes have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at Barnes Appraisal Company you can rest assured that we stick to that rule.
We meet or beat the industry standards and rules set in place for ethics. We refuse to accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we don't 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 professions biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.
With Barnes Appraisal Company, you can be assured of 100 percent ethical, professional service.