For honest and ethical appraisals, count on 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 called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have many responsibilities as appraisers, but first and foremost we answer to our clients.
More often than not, for a typical residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Consequently, appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you desire to review an appraisal report, you normally should request it through your lender and not the appraiser.
Other responsibilities include accurate sums appropriate to the scope of the report, reaching and sustaining a respectable level of competency and education, and naturally, the appraiser must bear a professional demeanor. Maintaining high ethics and client confidentiality is standard operating procedure for us at REID E. CHOATE & ASSOCIATES, LLC.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in scope of 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 things in the framework of the job.
||REID E. CHOATE & ASSOCIATES, LLC has worked hard for its reputation for completing competent and ethically superior appraisals. To learn more, contact us.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for at least 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 mandates set in place for professional behavior. We refuse to accept anything less from ourselves.
Accepting assignments based on contingency fees is not something we can consider.
That is, 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 fabricating a home's value to achieve a bigger paycheck is unethical!
This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly 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 getting 100 percent ethical, professional service.