For honest and ethical appraisals, trust Russell Appraisal Service
We think of our business as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
We have many obligations as appraisers but our main duty is to our clients. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require to obtain a copy of the appraisal document, you should get it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, attaining and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Russell Appraisal Service, we take these ethical responsibilities very seriously.
Russell Appraisal Service has worked hard for its reputation for completing competent and ethically superior appraisals. To learn more Contact us
Appraisers will frequently need to consider the interests of third parties, including homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. 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 things in the framework of the order.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at Russell Appraisal Service you can rest assured that we stick to that rule.
We require the highest professional integrity possible from ourselves. Doing assignments on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 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 Russell Appraisal Service, you won't have any doubts that you're receiving 100 percent ethical, honest service.