Allegiance Appraisals maintains the utmost professional ethicsTypically, appraising is a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age 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.
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 brought in to maintain independence.
Thereon, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you want a copy of the appraisal document, you normally should request it from your lender and not the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary role is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - at Allegiance Appraisals you can rest assured that we adhere to that rule.
We meet or exceed the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Doing orders where our fee is dependent on our value conclusion is not something we can consider. In other words, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. It should be apparent to anyone that fabricating a property's value to achieve a bigger paycheck is unethical! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") 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 assured we are going above and beyond to get you an accurate home or property value.
With Allegiance Appraisals, you can be assured of 100 percent ethical, professional service.