For honest and ethical appraisals, trust Jordan-AppraisalAppraising is generally a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have many responsibilities as appraisers, but our primary duty is to our clients.
Most of the time, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Consequently, appraisers have certain duties of privacy to their clients, plus many rules and regulations that must be followed. So, as
a homeowner, if you desire a copy of an appraisal report, you normally have to get it through your lender and not the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - something else Jordan-Appraisal takes very seriously.
We demand the highest ethical standards possible from ourselves. Accepting orders based on contingency fees is never an option. That means we are not able to agree to do an appraisal report and get paid only if the loan closes. There's an obvious conflict of interest if an appraiser can report a greater value and then get paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice clearly defines 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" 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 request an appraisal from Jordan-Appraisal, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for.