Craggs Appraisal Services, LTD upholds the utmost professional ethicsTypically, appraising is a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have quite a few responsibilities as appraisers, but first and foremost we answer to our clients.
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 brought in to maintain independence.
Consequently, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you would like to obtain a copy of an appraisal report, you normally should obtain it via your lender instead of the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty 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 order.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - at Craggs Appraisal Services, LTD you can rest assured that we abide by that rule.
Craggs Appraisal Services, LTD holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Working on orders based on contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. There's an obvious conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also defines a violation in ethics 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 diligently follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.
With Craggs Appraisal Services, LTD, you won't have any doubts that you're getting 100 percent ethical, honest service.