Crescent Appraisal Group, Inc. upholds the highest professional ethics
Generally, appraising a long term career. 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 unquestionably be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have a lot of obligations as appraisers but our main duty is to our clients. Normally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you want to review an appraisal report, you normally have to get it from your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the assignment, attaining and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Crescent Appraisal Group, Inc., we take these ethical responsibilities very to heart.
Crescent Appraisal Group, Inc. has an established track record for producing appraisals with the highest of ethics. Contact us today to learn more.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - at Crescent Appraisal Group, Inc. you can rest assured that we abide by that rule.
We meet or beat the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to 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 no-no, because it would invite fraudulent practices since increasing the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Crescent Appraisal Group, Inc., you won't have any doubts that you're getting 100 percent ethical, professional service.