Race Appraisal Services, LLC maintains the utmost professional ethics
Typically, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we have a strict ethical code.
We have a great deal of obligations 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 have certain duties of confidentiality to their clients, and as a homeowner, if you want a copy of the appraisal document, you generally have to obtain it from your lender. Other obligations also include, accurate sums appropriate to the scope of the assignment, reaching and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at Race Appraisal Services, LLC.
Race Appraisal Services, LLC has an established track record for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers will sometimes need to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - something else Race Appraisal Services, LLC diligently adheres to.
We only perform to the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the value of the home would raise the fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies to which an 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 follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.
With Race Appraisal Services, LLC, you can be assured of 100 percent ethical, professional service.
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