Honesty and Integrity: Reachable Appraisal ServicesGenerally, appraising is a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
The appraiser's main obligation is to their client.
Typically, for a standard residential appraisal, 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.
Consequently, appraisers are typically restricted to only disclosing their findings to their clients, so as
a homeowner, if you want a copy of the appraisal document, you normally should request it from your lender and not the appraiser.
Appraisers will often be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have rules 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 Reachable Appraisal Services you can rest assured that we abide by that rule.
We demand the highest ethical standards possible from ourselves. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. That means we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. It should be apparent to anyone that fabricating a home's value to achieve a bigger fee is unethical!
Finally, the Uniform Standards of Professional Appraisal Practice explicitly describes 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", 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 going above and beyond to objectively determine the home or property value.
As soon as you engage Reachable Appraisal Services, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for.