Daniel Todd Appraisal Services, LLC maintains the utmost professional ethics
Typically, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
The appraiser's main responsibility is to their client. 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 would like to obtain a copy of an appraisal report, you normally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Daniel Todd Appraisal Services, LLC, we take these ethical responsibilities very seriously.
Daniel Todd Appraisal Services, LLC has an established track record for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can sometimes have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Daniel Todd Appraisal Services, LLC diligently adheres to.
We meet or beat the industry standards and guidelines set in place for professional behavior. We won't accept anything less from ourselves. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite appraisal fraud since increasing the estimate of the home would up the 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 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 diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.
As soon as you request an appraisal from Daniel Todd Appraisal Services, LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.