For honest and ethical appraisals, rely on LHC Appraisals
Generally, appraising a long term career. 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 certainly be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
As appraisers our chief responsibility is to their client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to obtain a copy of the appraisal document, you generally have to obtain it from your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the assignment, reaching and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at LHC Appraisals.
LHC Appraisals has worked hard for its reputation for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly need to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - at LHC Appraisals you can rest assured that we abide by 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. Doing assignments on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite fraudulent practices since increasing the estimate of the home would inflate the fee. We don't do that. Other improper practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 be assured we are doing everything we can to provide an unbiased determination of the home or property value.
With LHC Appraisals, you won't have any doubts that you're getting 100 percent ethical, honest service.