For honest and ethical appraisals, count on Appraisal Group Raines and PhillipsAppraising is, by and large, a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
The appraiser's chief obligation is to their client.
Typically, for a regular 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 hired in order to maintain independence.
Appraisers have certain duties of confidentiality to their clients, plus many rules and regulations that must be followed. So, as
a homeowner, if you desire to obtain a copy of an appraisal report, you generally have to obtain it via your lender.
Appraisers will sometimes need to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical duties 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 Appraisal Group Raines and Phillips takes very seriously.
When creating reports, we follow the highest ethical standards possible. Working on assignments where our fee is dependent on our value conclusion is not something we can consider. In other words, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. It should be apparent to anyone that fabricating a property's value to achieve a bigger fee is unethical! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice clearly describes 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
With Appraisal Group Raines and Phillips, you won't have any doubts that you're receiving 100 percent ethical, honest service.