![]() For honest and ethical appraisals, rely on Cheryl ClarkAppraising is, by and large, 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 definitely be dubbed a profession rather than a trade. As with any profession we are bound by ethical considerations.
We have a great deal of responsibilities as appraisers, but our chief duty is to our clients.
More often than not, for a typical 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 retained to maintain independence.
Consequently, appraisers have certain duties of privacy to their clients, plus many rules and regulations to which we must adhere. 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.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary role is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else Cheryl Clark takes very seriously. We meet or exceed the industry standards and rules set in place for ethics. We won't accept anything less from ourselves. Doing assignments where our fee is dependent on our value conclusion is never an option. That means we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. 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 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value. As soon as you engage Cheryl Clark, we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for. |