For honest and ethical appraisals, rely on Race Appraisal Services, LLC
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many responsibilities 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. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want to review an appraisal report, you normally have to obtain it through your lender. Other obligations also include, accurate sums appropriate to the nature of the report, reaching and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is is what we do everyday 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 often be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - at Race Appraisal Services, LLC you can rest assured that we stick to that rule.
We meet or beat the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. Working on orders that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. 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 states 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 confident we are working hard to objectively determine the home or property value.
When you engage Race Appraisal Services, LLC we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.
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