Honesty and Integrity: J. Boyles Appraisals, LLC
Appraising is generally a long term career. 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 definitely be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many obligations as appraisers but our primary duty is to our clients. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you require to obtain a copy of the appraisal document, you generally have to get it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the report, attaining and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at J. Boyles Appraisals, LLC, we take these ethical responsibilities very seriously.
J. Boyles Appraisals, LLC has worked hard for its track record for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can also have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - at J. Boyles Appraisals, LLC you can rest assured that we abide by that rule.
J. Boyles Appraisals, LLC holds itself to the industry standards and guidelines set in place for professional behavior. We won't 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 payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite appraisal fraud since increasing the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
As soon as you engage J. Boyles Appraisals, LLC we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.