Honesty and Integrity: Appraisal Services At Telluride, LLCWe think of our job as a profession. Requirements to become 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 dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a lot of obligations as appraisers, but first and foremost we answer to our clients.
Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Thereon, appraisers have certain duties of privacy to their clients, plus many rules and regulations to which we must adhere. As
a homeowner, if you desire to obtain a copy of the appraisal document, you generally have to obtain it via your lender and not the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
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 - something else Appraisal Services At Telluride, LLC makes a part of their standard routine.
Appraisal Services At Telluride, LLC holds itself to the industry standards and rules set in place for ethics. We refuse to accept anything less from ourselves. Accepting orders based on contingency fees is never an option. That means we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. There's a definite conflict of interest if an appraiser can report an unsubstantiated value and then get paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice also defines 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be confident we are going above and beyond to get you an accurate home or property value.
As soon as you engage Appraisal Services At Telluride, LLC, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for.