For honest and ethical appraisals, count on Sax & Associates, Inc.
Typically, appraising a long term career. The rigors of becoming a licensed appraiser have increased more 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 as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
An appraiser's chief obligation is to their client. Typically, in residential practice, 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 require to review the appraisal document, you generally have to obtain it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Sax & Associates, Inc., we take these ethical responsibilities very seriously.
Sax & Associates, Inc. has worked hard for its track record for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of third parties, including homeowners, buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third 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 store their work files for at least five years - at Sax & Associates, Inc. you can rest assured that we adhere to that rule.
Sax & Associates, Inc. holds itself to the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. Doing orders on contingency fees is not something we can consider That is, we can't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional 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 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 be at ease knowing we are doing everything we can to objectively determine the home or property value.
With Sax & Associates, Inc., you won't have any doubts that you're receiving 100 percent ethical, professional service.