For honest and ethical appraisals, rely on TNC Appraisal Service, Inc.
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have a lot of responsibilities as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you want a copy of an appraisal report, you generally have to request it through your lender. Other responsibilities also include, accurate sums appropriate to the nature of the report, reaching and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at TNC Appraisal Service, Inc., we take these ethical responsibilities very seriously.
TNC Appraisal Service, Inc. has an established track record for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will often need to consider the interests of third parties, including homeowners, sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll 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 duties that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at TNC Appraisal Service, Inc. you can rest assured that we stick to that rule.
We meet or beat the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," as well as other situations. We diligently 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 TNC Appraisal Service, Inc., you can be assured of 100 percent ethical, honest service.