For honest and ethical appraisals, rely on Tierney Appraisals
We consider our what we do a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we are bound by an ethical code.
The appraiser's chief responsibility is to his or her client. Typically, 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 want to review an appraisal report, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and keeping 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 Tierney Appraisals.
Tierney Appraisals has an established reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - something else Tierney Appraisals makes a part of their standard routine.
We require the highest ethical standards possible from ourselves. Working on assignments that contingency fees is not something we can consider That is, we don't 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 perhaps the appraisal professions most important rule, because it would invite fraudulent practices since increasing the value of the home would raise the fee. We don't do that. Other unethical practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 doing everything we can 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 an ethical approach with appraisals that we're known for.