EAC Real Estate Ventures & Appraisals upholds the highest professional ethics
Appraising is generally a long term career. The rigors of becoming a licensed appraiser have increased more 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 as opposed to a trade. As with any profession we have a strict ethical code.
We have quite a few obligations as appraisers but our primary duty is to our clients. Normally, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to review an appraisal report, you normally have to get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, acquiring and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at EAC Real Estate Ventures & Appraisals, we take these ethical responsibilities very seriously.
EAC Real Estate Ventures & Appraisals has an established track record for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - at EAC Real Estate Ventures & Appraisals you can rest assured that we stick to that rule.
We meet or beat the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. We never do assignments on contingency fees. That is, we are not able to 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 perhaps the appraisal professions most important rule, because it would invite fraudulent practices since increasing the estimate of the home would up the fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations to which an 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," in addition to other situations We diligently follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value.
With EAC Real Estate Ventures & Appraisals, you won't have any doubts that you're receiving 100 percent ethical, honest service.