John Petz Appraisal maintains the highest professional ethics
Generally, appraising a long term career. 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 rather than a trade. As with any profession we are bound by ethical considerations.
We have a great deal of responsibilities as appraisers but above everything we answer to our clients. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to obtain a copy of an appraisal report, you should get it through your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, attaining and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at John Petz Appraisal, we take these ethical responsibilities very to heart.
John Petz Appraisal has worked hard for its reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else John Petz Appraisal takes very seriously.
We meet or beat the industry standards and rules set in place for ethics. We can't accept anything less from ourselves. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite appraisal fraud since raising the value of the home would increase the fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations that the 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," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.
With John Petz Appraisal, you can be assured of 100 percent ethical, professional service.