For honest and ethical appraisals, trust REID E. CHOATE & ASSOCIATES, LLC
We consider our business as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
The appraiser's main obligation is to their client.
More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has brought in to maintain independence.
Appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to request it through your lender and not the appraiser.
Other obligations include numerical accuracy depending on the assignment parameters, attaining and keeping a certain level of competency and education, and naturally, the appraiser must bear a professional demeanor. Here at REID E. CHOATE & ASSOCIATES, LLC, we take these ethical responsibilities very seriously.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
||REID E. CHOATE & ASSOCIATES, LLC has an established reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - at REID E. CHOATE & ASSOCIATES, LLC you can rest assured that we adhere to that rule.
REID E. CHOATE & ASSOCIATES, LLC holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves.
Accepting orders where our fee is dependent on our value conclusion is not something we can consider.
That means we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion.
Anyone should be able to see that inflating a value to achieve what amounts to a higher fee is unethical!
This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice also describes a violation in ethics 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", or "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 working hard to objectively determine the home or property value.
With REID E. CHOATE & ASSOCIATES, LLC, you won't have any doubts that you're receiving 100 percent ethical, professional service.