Honesty and Integrity: Tierney Appraisals
By and large, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
As appraisers our primary responsibility is to their client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you desire to obtain a copy of the appraisal document, you normally have to obtain it from your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the assignment, reaching and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Tierney Appraisals, we take these ethical responsibilities very seriously.
Tierney Appraisals has an established track record for completing competent and ethically superior appraisals. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Tierney Appraisals you can rest assured that we abide by that rule.
We require the highest ethical standards possible from ourselves. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite fraudulent practices since raising the value of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations to which an 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," in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value.
With Tierney Appraisals, you won't have any doubts that you're receiving 100 percent ethical, honest service.