For honest and ethical appraisals, count on Capital Region Appraisals, LLCAppraising is, by and large, a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have a lot of responsibilities as appraisers, but above everything we answer to our clients.
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 have certain duties of privacy to their clients, plus many rules and regulations controlling with whom we share information. So, as
a homeowner, if you would like to obtain a copy of the appraisal document, you generally have to get it through your lender and not the appraiser.
Appraisers will often be obligated to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - something else Capital Region Appraisals, LLC makes a part of their standard routine.
We require the highest professional integrity possible from ourselves. Accepting assignments based on contingency fees is not something we can consider. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. There's an obvious conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly describes 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 diligently follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.
When you engage Capital Region Appraisals, LLC, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for.