Honesty and Integrity: REID E. CHOATE & ASSOCIATES, LLC
Appraising is typically a long term career. 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 chief responsibility is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you require a copy of the appraisal document, you normally have to get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is is what we do everyday at REID E. CHOATE & ASSOCIATES, LLC.
REID E. CHOATE & ASSOCIATES, LLC has worked hard for its track record for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will often be required to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. 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 order.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at REID E. CHOATE & ASSOCIATES, LLC you can rest assured that we stick to that rule.
We only perform to the highest ethical standards possible. Working on orders that contingency fees is never an option. That is, we can't 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 appraisal fraud since increasing the value of the home would up the their paycheck. We don't do that. Other unprofessional practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be confident 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, honest service.