For honest and ethical appraisals, rely on Cole & Company Appraisal Services, Inc.
We consider our what we do a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. 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. As with any profession we are bound by ethical considerations.
We have a lot of obligations as appraisers but our chief duty is to our clients. More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want to obtain a copy of the appraisal document, you normally have to get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, acquiring and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Cole & Company Appraisal Services, Inc., we take these ethical responsibilities very to heart.
Cole & Company Appraisal Services, Inc. has worked hard for its track record for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will sometimes be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical standards 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 - something else Cole & Company Appraisal Services, Inc. diligently adheres to.
We only perform to the highest ethical standards possible. 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. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be established 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 the acceptance 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 be at ease knowing we are going above and beyond to objectively determine the home or property value.
As soon as you order an appraisal from Cole & Company Appraisal Services, Inc. we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.