Dedicated Appraisal Services, Inc maintains the utmost professional ethicsWe consider what we do as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
We have quite a few obligations as appraisers, but our chief duty is to our clients.
Normally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Certain elements relating to an assignment are to be shared with the appraiser's client. As
a homeowner, if you want a copy of an appraisal report, you generally should obtain it via your lender and not the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary role is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at Dedicated Appraisal Services, Inc you can rest assured that we abide by that rule.
We only perform to the highest ethical standards possible. Accepting orders where our fee is dependent on our value conclusion is never an option. In other words, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. There's a definite conflict of interest if an appraiser can report a greater value and then get paid more money! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice also describes 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" in addition to other situations We 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.
As soon as you order an appraisal from Dedicated Appraisal Services, Inc, we'll make sure you're getting the professional service you expect along with the principles we're known for.