Honesty and Integrity: REID E. CHOATE & ASSOCIATES, LLC
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have a lot of responsibilities as appraisers, but our main duty is to our clients.
Generally, for a normal 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 brought in to maintain independence.
It follows that appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you desire to obtain a copy of an appraisal report, you normally should request it via your lender.
Other obligations include numerical accuracy depending on the assignment parameters, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is what we do every day at REID E. CHOATE & ASSOCIATES, LLC.
Appraisers will regularly be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
||REID E. CHOATE & ASSOCIATES, LLC has an established track record for providing competent and ethically superior appraisals. To learn more, contact us.
There are also ethical rules 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 adhere to that rule.
We demand the highest professional integrity possible from ourselves.
Working on orders based on contingency fees is not something we can consider.
That means we can't agree to do an appraisal report and collect the fee only if the loan closes.
It should be obvious that inflating a value to achieve what amounts to a bigger paycheck 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" as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are working hard to get you an accurate 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.