For honest and ethical appraisals, count on Larkins Appraisal Services
Generally, 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 unquestionably be called a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
We have quite a few obligations as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to obtain a copy of an appraisal report, you normally have to obtain it from your lender. Other obligations also include, accurate figures appropriate to the nature of the assignment, attaining and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Larkins Appraisal Services.
Larkins Appraisal Services has worked hard for its track record for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will often be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. 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 with whom we share information For example, appraisers must store their work files for a minimum of five years - something else Larkins Appraisal Services takes very seriously.
We demand the highest professional integrity possible from ourselves. We never do assignments on contingency fees. That is, we can'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 industries biggest no-no, because it would invite appraisal fraud since increasing the estimate of the home would increase the their paycheck. We don't do that. Other unprofessional 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," as well as other situations. We follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.
When you request an appraisal from Larkins Appraisal Services we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.