For honest and ethical appraisals, count on REID E. CHOATE & ASSOCIATES, LLC
We think of our business as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have many obligations as appraisers, but our chief duty is to our clients.
Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
Subsequently, appraisers are typically restricted to only disclosing their findings to their clients, so as
a homeowner, if you would like to review the appraisal document, you normally should obtain it through your lender instead of the appraiser.
Other obligations include accurate figures appropriate to the nature of the assignment, reaching and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is standard operating procedure for us at REID E. CHOATE & ASSOCIATES, LLC.
Appraisers will frequently need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
||REID E. CHOATE & ASSOCIATES, LLC has an established track record for performing competent and ethically superior appraisals. Contact us today to learn more.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - at REID E. CHOATE & ASSOCIATES, LLC you can rest assured that we abide by that rule.
We require the highest professional integrity possible from ourselves.
Working on assignments based on contingency fees is not something we can consider.
In other words, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion.
There's certainly a conflict of interest if an appraiser can report a greater value with the reward of getting paid more money!
This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also describes 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.
With REID E. CHOATE & ASSOCIATES, LLC, you won't have any doubts that you're getting 100 percent ethical, honest service.