Gray Appraisal Services maintains the utmost professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult 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. In our field, as with any profession, we must follow strict ethical considerations.
As appraisers our chief responsibility is to his or her client. Normally, for a typical 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 would like to review the appraisal document, you normally have to request it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Gray Appraisal Services, we take these ethical responsibilities very to heart.
Gray Appraisal Services has an established track record for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will regularly need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - at Gray Appraisal Services you can rest assured that we stick to that rule.
We only perform to the highest ethical standards possible. Working on assignments that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We don't do that. Other unethical 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 follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.
As soon as you order an appraisal from Gray Appraisal Services we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.