For honest and ethical appraisals, trust Scolastico Appraisals, LLC
We think of our job as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have many responsibilities as appraisers but our primary duty is to our clients. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require a copy of an appraisal report, you should request it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Scolastico Appraisals, LLC, we take these ethical responsibilities very seriously.
Scolastico Appraisals, LLC has worked hard for its track record for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers will often need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - something else Scolastico Appraisals, LLC makes a part of their standard routine.
We require the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we don'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 perhaps the appraisal professions biggest taboo, because it would tend to make appraisers raise 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 societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 provide an unbiased determination of the home or property value.
With Scolastico Appraisals, LLC, you can be assured of 100 percent ethical, professional service.