![]() For honest and ethical appraisals, count on Maria SheltonGenerally, appraising is a long term career. The rigors of becoming 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 unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
The appraiser's primary obligation is to their client.
Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
Appraisers are typically limited to only disclosing their findings to their clients, so as
a homeowner, if you desire a copy of an appraisal report, you generally should request it from your lender and not the appraiser.
Appraisers will sometimes be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - at Maria Shelton you can rest assured that we adhere to that rule. We meet or exceed the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Working on assignments where our fee is dependent on our value conclusion is not something we can consider. That means we can't agree to do an appraisal report and get paid only if the loan closes. There's an obvious conflict of interest if an appraiser can report a larger value and then get paid more money! Finally, the Uniform Standards of Professional Appraisal Practice clearly defines unethical behavior 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. With Maria Shelton, you can be assured of 100 percent ethical, honest service. |