 Crescent City Appraisal Services,LLC maintains the utmost professional ethicsWe consider our job as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have a lot of responsibilities as appraisers, but first and foremost we answer to our clients.
Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has contracted in order to maintain independence.
Thereon, appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you want to review an appraisal report, you generally should obtain it from your lender.
Appraisers will frequently need to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role 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 store their work files for at least five years - something else Crescent City Appraisal Services,LLC takes very seriously. We demand the highest ethical standards possible from ourselves. Doing assignments based on contingency fees is never an option. In other words, we don'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 explicitly describes 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" in addition to other situations We diligently follow these rules to the letter which means you can be confident we are doing everything we can to get you an accurate home or property value. When you engage Crescent City Appraisal Services,LLC, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |
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