Concra Appraisal Associates upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
The appraiser's primary obligation is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to review an appraisal report, you should obtain it through your lender. Other obligations also include, accurate sums appropriate to the nature of the assignment, attaining and maintaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Concra Appraisal Associates, we take these ethical responsibilities very to heart.
Concra Appraisal Associates has worked hard for its reputation for producing appraisals with the highest of ethics. To learn more Contact us
Appraisers will often need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Concra Appraisal Associates takes very seriously.
We meet or beat the industry standards and guidelines set in place for professional behavior. We won't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. 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 industries most important rule, because it would invite fraudulent practices since raising the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies to which an 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," in addition to 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.
With Concra Appraisal Associates, you can be assured of 100 percent ethical, honest service.