![]() a la mode, inc. maintains the utmost professional ethicsWe think of our job as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
The appraiser's chief responsibility is to their client.
Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you would like to obtain a copy of an appraisal report, you generally have to get it via your lender instead of the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else a la mode, inc. makes a part of their standard routine. When creating reports, we follow the highest ethical standards possible. Accepting orders based on contingency fees is not something we can consider. That is, we are not able to 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 home's value to achieve a higher paycheck is unethical! 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" in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to get you an accurate home or property value. With a la mode, inc., you can be assured of 100 percent ethical, professional service. |