Timely Appraisal Services maintains the utmost professional ethicsAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we have a strict ethical code.
An appraiser's chief obligation is to their client.
Typically, for a standard residential appraisal, 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.
Subsequently, appraisers are typically limited to only disclosing their findings to their clients, so as
a homeowner, if you want to obtain a copy of the appraisal document, you generally have to get it via your lender.
Appraisers can also have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Timely Appraisal Services takes very seriously.
We require the highest ethical standards possible from ourselves. Accepting orders where our fee is dependent on our value conclusion is never an option. In other words, we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. Anyone should be able to see that fabricating a home's value to achieve what amounts to a higher fee is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly describes 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", or "the amount of a value opinion" as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
When you engage Timely Appraisal Services, we'll make sure you're getting the professional service you expect along with the business principles we're known for.