For honest and ethical appraisals, rely on Sea Island Appraisal CompanyAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. 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 an ethical code.
The appraiser's chief obligation is to their client.
Normally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Appraisers have certain duties of confidentiality to their clients, plus many rules and regulations that must be followed. So, as
a homeowner, if you want to obtain a copy of an appraisal report, you generally should get it through your lender.
Appraisers may regularly have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary role is only 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 duties outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Sea Island Appraisal Company takes very seriously. When busy with an appraisal, we follow the highest ethical standards possible. Accepting orders based on contingency fees is never an option. In other words, 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 and then get paid more money! Finally, the Uniform Standards of Professional Appraisal Practice clearly states 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value. When you engage Sea Island Appraisal Company, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |