 For honest and ethical appraisals, trust BN Real Estate, Inc.We think of what we do as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
The appraiser's primary obligation is to their client.
Typically, for a standard residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Subsequently, appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you would like to obtain a copy of an appraisal report, you generally should obtain it from your lender instead of the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary role is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - at BN Real Estate, Inc. you can rest assured that we stick to that rule. We demand the highest ethical standards possible from ourselves. Doing orders where our fee is dependent on our value conclusion is never an option. That means we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that inflating a value to achieve what amounts to a bigger fee is unethical! Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly 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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value. When you engage BN Real Estate, Inc., we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for. |
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