Honesty and Integrity: Great Northern Appraisal, Inc
We think of what we do as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we are bound by an ethical code.
The appraiser's chief obligation is to his or her client. More often than not, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you desire to review an appraisal report, you normally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at Great Northern Appraisal, Inc.
Great Northern Appraisal, Inc has an established track record for producing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can also have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Great Northern Appraisal, Inc diligently adheres to.
We meet or beat the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Working on orders that 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. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries biggest taboo, because it would invite fraudulent practices since increasing the value of the home would raise the fee. We don't do that. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "the amount of a value opinion," in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.
With Great Northern Appraisal, Inc, you can be assured of 100 percent ethical, honest service.