Race Appraisal Services, LLC maintains the utmost professional ethics
By and large, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have a lot of obligations as appraisers but first and foremost we answer to our clients. More often than not, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, acquiring and maintaining an appropriate 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 worked hard for its track record for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers can also have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, 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 is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have standards 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 makes a part of their standard routine.
We only perform to the highest ethical standards possible. Doing orders on contingency fees is never an option. That is, we don'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 perhaps the appraisal professions biggest no-no, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper 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 diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Race Appraisal Services, LLC, you can be assured of 100 percent ethical, honest service.
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