For honest and ethical appraisals, count on TNC Appraisal Service, Inc.
Appraising is a profession, and appraisers are professionals. The rigors of becoming 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 dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a great deal of obligations as appraisers but our chief duty is to our clients. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to review the appraisal document, you normally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at TNC Appraisal Service, Inc..
TNC Appraisal Service, Inc. has worked hard for its reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty 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 assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - at TNC Appraisal Service, Inc. you can rest assured that we adhere to that rule.
TNC Appraisal Service, Inc. holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be defined 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 confident we are working hard to objectively determine the home or property value.
With TNC Appraisal Service, Inc., you won't have any doubts that you're receiving 100 percent ethical, honest service.