![]() For honest and ethical appraisals, rely on Southland Appraisal, LLCBy and large, appraising is a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we have a strict ethical code.
The appraiser's chief obligation is to their client.
Generally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you desire to review an appraisal report, you generally should request it through your lender.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Southland Appraisal, LLC makes a part of their standard routine. We meet or exceed the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. Accepting orders where our fee is dependent on our value conclusion is never an option. In other words, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. There's an obvious conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly states 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", or "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 doing everything we can to provide an unbiased determination of the home or property value. With Southland Appraisal, LLC, you won't have any doubts that you're receiving 100 percent ethical, honest service. |