Honesty and Integrity: Columbus Appraisal Company, LLC
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we have a strict ethical code.
We have a great deal of obligations as appraisers but our chief duty is to our clients. More often than not, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to request it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Columbus Appraisal Company, LLC, we take these ethical responsibilities very seriously.
Columbus Appraisal Company, LLC has an established track record for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers may regularly have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - at Columbus Appraisal Company, LLC you can rest assured that we adhere to that rule.
We meet or beat the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Doing orders on contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.
With Columbus Appraisal Company, LLC, you can be assured of 100 percent ethical, professional service.