For honest and ethical appraisals, trust Garrison Appraisal
We consider our our business a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
For an appraiser the primary responsibility is to their client. 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 want to review an appraisal report, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Garrison Appraisal.
Garrison Appraisal has worked hard for its track record for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers may sometimes have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Garrison Appraisal makes a part of their standard routine.
When working on an assignment, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be defined by state law or professional organizations 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 rest easy knowing we are working hard to provide an unbiased determination of the home or property value.
As soon as you request an appraisal from Garrison Appraisal we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.