For honest and ethical appraisals, trust Race Appraisal Services, LLC
We consider our what we do a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be called 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 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 have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like to review an appraisal report, you normally have to get it through your lender. Other obligations also include, accurate sums appropriate to the parameters of the assignment, reaching and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Race Appraisal Services, LLC, we take these ethical responsibilities very to heart.
Race Appraisal Services, LLC has an established reputation for producing competent and ethically superior appraisals. Contact us today to learn more.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at Race Appraisal Services, LLC you can rest assured that we adhere to that rule.
Race Appraisal Services, LLC holds itself to the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. Working on orders that contingency fees is never an option. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (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," "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 going above and beyond to provide an unbiased determination of the home or property value.
With Race Appraisal Services, LLC, you won't have any doubts that you're getting 100 percent ethical, honest service.
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