For honest and ethical appraisals, count on Tierney Appraisals
We consider our our business a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have a great deal of obligations as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like a copy of an appraisal report, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and sustaining a certain 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 to heart.
Tierney Appraisals has an established track record for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of 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 never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We don'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 up the their paycheck. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations 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," as well as other situations. We follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.
When you engage 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.