For honest and ethical appraisals, rely on COOPER RESIDENTIAL SERVICESGenerally, appraising is a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have many responsibilities as appraisers, but our primary duty is to our clients.
Typically, for a normal residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It's important to know that a lot of elements pertaining to an assignment are to be discussed exclusively with the appraiser's client. As
a homeowner, if you would like to review an appraisal report, you normally should request it via your lender instead of the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - at COOPER RESIDENTIAL SERVICES you can rest assured that we adhere to that rule.
We meet or exceed the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. Working on assignments where our fee is dependent on our value conclusion is not something we can consider. In other words, we can't agree to do an appraisal report and get paid only if the loan closes. There's certainly a conflict of interest if an appraiser can report a greater value and then get paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice also states a violation in ethics as accepting 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 follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.
With COOPER RESIDENTIAL SERVICES, you won't have any doubts that you're getting 100 percent ethical, professional service.