For honest and ethical appraisals, rely on Appraising Greater Orlando, Inc.Appraising is, by and large, a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed 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. Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As a homeowner, if you want to obtain a copy of an appraisal report, you normally have to request it from your lender and not the appraiser. Recent laws have mandated that borrowers receive a copy of the appraisal before closing.
Appraisers can sometimes have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - at Appraising Greater Orlando, Inc. you can rest assured that we adhere to that rule.
We require the highest ethical standards possible from ourselves. Accepting orders based on contingency fees is not something we can consider. That means we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's certainly a conflict of interest if an appraiser can report a larger value and then get paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly states a violation in ethics as accepting 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 diligently follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.
With Appraising Greater Orlando, Inc., you can be assured of 100 percent ethical, professional service.