Sharon L White Appraisal Services, LLC maintains the utmost professional ethicsWe consider our business as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have quite a few responsibilities as appraisers, but first and foremost we answer to our clients.
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 brought in to maintain independence.
It follows that appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you want to obtain a copy of an appraisal report, you normally have to get it from your lender.
Appraisers may regularly have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those third 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 - at Sharon L White Appraisal Services, LLC you can rest assured that we stick to that rule.
When creating reports, we follow the highest ethical standards possible. Working on assignments where our fee is dependent on our value conclusion is not something we can consider. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. It should be apparent to anyone that fabricating a home's value to achieve essentially a higher fee is unethical! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "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", 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.
With Sharon L White Appraisal Services, LLC, you can be assured of 100 percent ethical, honest service.