For honest and ethical appraisals, rely on Central Arizona Real Estate AppraisersAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
The appraiser's chief obligation is to their client.
Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It's important to know that many matters pertaining to an assignment are to be shared with the appraiser's client. As
a homeowner, if you would like a copy of an appraisal report, you generally should obtain it from your lender instead of the appraiser.
Appraisers will often need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically 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 assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - at Central Arizona Real Estate Appraisers you can rest assured that we adhere to that rule.
When creating reports, we follow the highest ethical standards possible. Accepting 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 collect payment on the contingency of the loan closing. There's certainly a conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice explicitly 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be confident we are going above and beyond to get you an accurate home or property value.
With Central Arizona Real Estate Appraisers, you can be assured of 100 percent ethical, honest service.