PLM Appraisals maintains the utmost professional ethics
Generally, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
For an appraiser the primary responsibility is to his or her client. More often than not, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire a copy of the appraisal document, you normally have to request it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, attaining and keeping a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at PLM Appraisals, we take these ethical responsibilities very to heart.
PLM Appraisals has worked hard for its track record for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers will often be required to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - at PLM Appraisals you can rest assured that we stick to that rule.
PLM Appraisals holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would up the fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "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 provide an unbiased determination of the home or property value.
With PLM Appraisals, you can be assured of 100 percent ethical, professional service.