For honest and ethical appraisals, trust PLM Appraisals
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult 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. As with any profession we must follow strict ethical considerations.
For an appraiser the main obligation is to his or her client. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire a copy of an appraisal report, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and maintaining an adequate 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 performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly be obligated to consider the interests of third parties, such as 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 knows, based on the scope of work or other written parameters of the job.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else PLM Appraisals makes a part of their standard routine.
We require the highest ethical standards possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we are not able to 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 probably the appraisal professions biggest no-no, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be defined 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," in addition to other situations We follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.
As soon as you order an appraisal from PLM Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.