Double J Appraisals, LLC. maintains the utmost professional ethicsAppraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
We have quite a few responsibilities as appraisers, but our chief duty is to our clients.
More often than not, for a standard residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you desire to obtain a copy of an appraisal report, you generally have to request it from your lender and not the appraiser.
Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in 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 assignment.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - at Double J Appraisals, LLC. you can rest assured that we stick to that rule.
When creating reports, we follow the highest ethical standards possible. Working on assignments where our fee is dependent on our value conclusion is not something we can consider. In other words, we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. It should be apparent to anyone that fabricating a home's value to achieve a higher fee is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice clearly describes 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be assured we are doing everything we can to provide an unbiased determination of the home or property value.
As soon as you order an appraisal from Double J Appraisals, LLC., we'll make sure you're getting the professional service you expect along with the business principles we're known for.