For honest and ethical appraisals, rely on Tierney Appraisals
We consider our our job a profession. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
As appraisers our primary obligation is to his or her client. Typically, for a regular 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 want a copy of the appraisal document, you normally have to get it from your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the assignment, attaining and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Tierney Appraisals, we take these ethical responsibilities very seriously.
Tierney Appraisals has worked hard for its reputation for performing 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, sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - something else Tierney Appraisals diligently adheres to.
We demand the highest professional integrity possible from ourselves. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be defined by state law or professional organizations to which an 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 follow these rules to the letter which means you can be assured 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 an ethical approach with appraisals that we're known for.