For honest and ethical appraisals, rely on REID E. CHOATE & ASSOCIATES, LLC
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult 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 have a strict ethical code.
The appraiser's primary responsibility 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 hired in order to maintain independence.
It's important to know that a lot of matters pertaining to an assignment are to be discussed exclusively with the appraiser's client. As
a homeowner, if you desire to obtain a copy of an appraisal report, you normally should get it from your lender and not the appraiser.
Other obligations include accurate sums appropriate to the parameters of the report, reaching and keeping a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at REID E. CHOATE & ASSOCIATES, LLC, we take these ethical responsibilities very to heart.
Appraisers may frequently have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
||REID E. CHOATE & ASSOCIATES, LLC has worked hard for its reputation for completing appraisals with the highest of ethics. To learn more, contact us.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else REID E. CHOATE & ASSOCIATES, LLC makes a part of their standard routine.
We meet or exceed the industry standards and guidelines set in place for professional behavior. We won't accept anything less from ourselves.
Accepting assignments where our fee is dependent on our value conclusion is never an option.
That means we are not able to agree to do an appraisal report and get paid only if the loan closes.
It should be obvious that inflating a value to achieve a higher paycheck is unethical!
We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also states 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" in addition to 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, professional service.