Appraisals Niagara Real Estate Appraisers Inc. maintains the utmost professional ethics
Appraising is generally a long term career. The rigors of becoming a designated appraiser have increased more than ever before. So it goes without question in this day and age 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.
As appraisers our chief obligation is to their client. Normally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you want a copy of the appraisal document, you should get it from your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the assignment, reaching and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Appraisals Niagara Real Estate Appraisers Inc., we take these ethical responsibilities very seriously.
Appraisals Niagara Real Estate Appraisers Inc. has worked hard for its reputation for providing appraisals with the highest of ethics. To learn more Contact us
Appraisers will often need to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in 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 written parameters of the order.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - at Appraisals Niagara Real Estate Appraisers Inc. you can rest assured that we stick to that rule.
We meet or beat the industry standards and rules set in place for ethics. We can't accept anything less from ourselves. We don't do assignments on contingency fees. 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 probably the appraisal industries biggest taboo, because it would invite fraudulent practices since raising the estimate of the home would increase the fee. We don't do that. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.
The Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) also states a violation in ethics as the acceptance 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 rest easy knowing we are working hard to provide an unbiased determination of the home or property value.
When you request an appraisal from Appraisals Niagara Real Estate Appraisers Inc. 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.