Appraising UTAH LLC maintains the highest professional ethics
Appraising is typically a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
We have a great deal of obligations as appraisers but our chief duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like a copy of an appraisal report, you should request it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is just normal course of business for us at Appraising UTAH LLC.
Appraising UTAH LLC has an established track record for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can regularly have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - at Appraising UTAH LLC you can rest assured that we stick to that rule.
We demand the highest ethical standards possible from ourselves. Working on assignments that 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 can't do assignments on percentage fees. That is probably the appraisal industries biggest taboo, because it would invite appraisal fraud since increasing the value of the home would up the fee. We set ourselves to a higher standard. Other improper practices may be established 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," 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.
With Appraising UTAH LLC, you can be assured of 100 percent ethical, honest service.
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