Herrin Appraisal Company maintains the highest professional ethics
We consider our what we do a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we are bound by ethical considerations.
The appraiser's chief obligation is to his or her client. Most of the time, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to review an appraisal report, you generally have to get it through your lender. Other obligations also include, accurate figures appropriate to the scope of the assignment, attaining and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Herrin Appraisal Company, we take these ethical responsibilities very to heart.
Herrin Appraisal Company has worked hard for its reputation for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those 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 store their work files for at least five years - at Herrin Appraisal Company you can rest assured that we abide by that rule.
Herrin Appraisal Company holds itself to the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be established 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," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.
With Herrin Appraisal Company, you can be assured of 100 percent ethical, honest service.
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