Tierney Appraisals maintains the highest professional ethics
Appraising is a profession, and appraisers are professionals. 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 unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
As appraisers our main obligation is to their client. Generally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like to review an appraisal report, you normally have to get it from your lender. Other obligations also include, accurate calculations appropriate to the parameters of the assignment, attaining and maintaining a particular 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 Tierney Appraisals.
Tierney Appraisals has worked hard for its reputation for producing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will regularly need to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - at Tierney Appraisals you can rest assured that we abide by that rule.
When creating reports, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. 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 perhaps the appraisal professions most important rule, because it would invite appraisal fraud since increasing the value of the home would increase the their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 diligently follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.
When you order an appraisal from Tierney Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.