Honesty and Integrity: REID E. CHOATE & ASSOCIATES, LLC
We consider our what we do a profession. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have many obligations as appraisers but above everything we answer to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire a copy of an appraisal report, you normally have to get it through your lender. Other responsibilities also include, accurate figures appropriate to the scope of the report, reaching and maintaining an adequate 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.
REID E. CHOATE & ASSOCIATES, LLC has worked hard for its track record for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will often need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. 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 assignment.
Appraisers also have standards outside of boundaries of 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 stick to that rule.
REID E. CHOATE & ASSOCIATES, LLC holds itself to the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "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 provide an unbiased determination of 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.