For honest and ethical appraisals, count on Buffalo Ridge Appraisals, LLC.Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
An appraiser's primary responsibility is to their client.
Typically, for a standard residential appraisal, 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.
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 desire to obtain a copy of the appraisal document, you normally have to get it through your lender and not the appraiser.
Appraisers can also have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - at Buffalo Ridge Appraisals, LLC. you can rest assured that we adhere to that rule. We only perform to the highest ethical standards possible. Accepting assignments where our fee is dependent on our value conclusion is not something we can consider. That means we don't agree to do an appraisal report and get paid only if the loan closes. 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 explicitly 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", or "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. As soon as you engage Buffalo Ridge Appraisals, LLC., we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for. |