Honesty and Integrity: Sirius Appraisal Services
We think of our business as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we are bound by ethical considerations.
An appraiser's primary responsibility is to their client. More often than not, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to review the appraisal document, you should request it through your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the assignment, attaining and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Sirius Appraisal Services, we take these ethical responsibilities very seriously.
Sirius Appraisal Services has worked hard for its track record for completing appraisals with the highest of ethics. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - at Sirius Appraisal Services you can rest assured that we adhere to that rule.
We meet or beat the industry standards and guidelines set in place for professional behavior. We won'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 don't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.
With Sirius Appraisal Services, you can be assured of 100 percent ethical, professional service.