Always Above Board - 360 Appraisal Inc.
We have many responsibilities as appraisers, but above everything we answer to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender hires to ensure independence. Thereon, appraisers are typically limited to only disclosing information to their clients, so as a homeowner, if you would like to review the appraisal document, you normally have to request it through your lender and not the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job. We will not release your appraisal to anyone else. Period.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - at 360 Appraisal Inc we maintain or exceed that rule.
While working on an order, we follow the highest ethical standards. Doing orders based on contingency fees is never an option. That is, we can't agree to do an appraisal report and get paid only if the loan closes. There's certainly a conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! That just wouldn't make sense, and could get you - and us - in a lot of trouble down the road. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly describes unethical behavior as accepting 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" in addition to other situations. We diligently follow these rules to the letter which means you know you've got an accurate property value report that meets all industry standards. As soon as you engage 360 Appraisal Inc, we make sure you're getting the professional service you deserve. And not the least, our reputation for honesty and integrity we've spent years to foster and maintain. |
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Appraising is more than a job, its a career. The rigors of becoming a certified appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can certainly be called a profession as opposed to just a trade. As with any certified professional, we have strict credentials to maintain. 
