Routt County Appraisers upholds the utmost professional ethics
We consider our what we do a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
For an appraiser the main responsibility is to their client. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require to review an appraisal report, you should get it through your lender. Other responsibilities also include, accurate figures appropriate to the scope of the report, reaching and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Routt County Appraisers, we take these ethical responsibilities very seriously.
Routt County Appraisers has worked hard for its reputation for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers may also have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is limited to those third 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 be able to produce their work files for at least five years - at Routt County Appraisers you can rest assured that we adhere to that rule.
We require the highest ethical standards possible from ourselves. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite appraisal fraud since raising the estimate of the home would raise the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "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 doing everything we can to objectively determine the home or property value.
When you request an appraisal from Routt County Appraisers we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.