![]() For honest and ethical appraisals, trust Tennessee Home AppraisalsAppraising is a profession, and appraisers are professionals. 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 certainly be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have many responsibilities as appraisers, but our chief duty is to our clients.
More often than not, for a standard 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 details pertaining to an assignment are to be shared with the appraiser's client. So, as
a homeowner, if you would like to review the appraisal document, you normally should obtain it through your lender instead of the appraiser.
Appraisers will frequently be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those 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 be able to produce their work files for at least five years - something else Tennessee Home Appraisals takes very seriously. We require the highest professional integrity possible from ourselves. Working on orders based on contingency fees is not something we can consider. In other words, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. It should be apparent to anyone that fabricating a property's value to achieve a bigger fee is unethical! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly describes 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value. When you request an appraisal from Tennessee Home Appraisals, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for. |