South Shore Realty Advisors, Inc maintains the utmost professional ethics
We consider our our job a profession. Requirements to become a licensed appraiser have increased more than ever before. So 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.
As appraisers our chief obligation is to their client. More often than not, in residential practice, 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 an appraisal report, you normally have to get it through your lender. Other obligations also include, accurate sums appropriate to the scope of the assignment, attaining and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at South Shore Realty Advisors, Inc, we take these ethical responsibilities very to heart.
South Shore Realty Advisors, Inc has worked hard for its reputation for producing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can sometimes have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - something else South Shore Realty Advisors, Inc makes a part of their standard routine.
We only perform to the highest ethical standards possible. Doing assignments on contingency fees is not something we can consider That is, we can't 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 invite fraudulent practices since raising the estimate of the home would inflate the fee. We don't do that. Other unprofessional practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 assured we are working hard to objectively determine the home or property value.
With South Shore Realty Advisors, Inc, you won't have any doubts that you're getting 100 percent ethical, honest service.