Tierney Appraisals maintains the utmost professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we are bound by an ethical code.
For an appraiser the primary responsibility is to their client. Most of the time, for a normal residential appraisal, 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 require to obtain a copy of an appraisal report, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at Tierney Appraisals.
Tierney Appraisals has an established track record for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will often be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. 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 order.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Tierney Appraisals diligently adheres to.
We meet or beat the industry standards and guidelines set in place for professional behavior. We won'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 the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite fraudulent practices since increasing the value of the home would inflate the fee. We don't do that. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "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 objectively determine the home or property value.
As soon as you engage 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.