For honest and ethical appraisals, count on Dexter Appraisal ServicesWe think of our job as a profession. Requirements to become a licensed or certified appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
An appraiser's main obligation is to their client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence. It's important to know that many details pertaining to an assignment are to be discussed with the appraiser's client. So, as a homeowner, if you would like to review the appraisal document, you generally have to get it through your lender and not the appraiser.
Appraisers can also have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside the boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at Dexter Appraisal Services you can rest assured that we stick to that rule.
Dexter Appraisal Services holds itself to the industry standards and rules set in place for professional behavior. We refuse to accept anything less from ourselves. Accepting assignments based on contingency fees is not something we can consider. In other words, we don'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 an unsubstantiated value with the reward of getting 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" as well as other situations. We diligently follow these rules to the letter. Which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.
When you order an appraisal from Dexter Appraisal Services, we'll make sure you're getting the professional service you expect along with the principles we're known for.
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