Honesty and Integrity: Evelyn Donica Appraisals
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
An appraiser's primary obligation is to their client. More often than not, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to review an appraisal report, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is just normal course of business for us at Evelyn Donica Appraisals.
Evelyn Donica Appraisals has worked hard for its reputation for producing competent and ethically superior appraisals. To learn more Contact us
Appraisers can often have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll 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 assignment.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - at Evelyn Donica Appraisals you can rest assured that we stick to that rule.
We only perform to the highest ethical standards possible. Doing orders on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 diligently 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.
As soon as you request an appraisal from Evelyn Donica Appraisals we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.