For honest and ethical appraisals, rely on the LA Appraisal Pro!
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days 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.
For an appraiser the primary obligation is to their client. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you want to review the appraisal document, you should get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Los Angeles Appraisal Group, we take these ethical responsibilities very seriously.
LA Appraisal Pro has worked hard for its reputation for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers can also have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - at Los Angeles Appraisal Group you can rest assured that we adhere to that rule.
While busy with an appraisal, we follow the highest ethical standards possible. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would invite appraisal fraud since raising the value of the home would raise the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
With Los Angeles Appraisal Group, you can be assured of 100 percent ethical, honest service.