 Honesty and Integrity: JC Reynolds Appraisals, Inc.Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have quite a few responsibilities as appraisers, but our primary duty is to our clients.
Normally, for a normal 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 brought in to maintain independence.
It follows that appraisers have certain duties of confidentiality to their clients, plus strict rules and regulations that must be followed. So, as
a homeowner, if you want a copy of the appraisal document, you generally should get it via your lender.
Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary role is restricted to those third parties who the appraiser knows, 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 be able to produce their work files for at least five years - something else JC Reynolds Appraisals, Inc. makes a part of their standard routine.
When working on an appraisal, we follow the highest ethical standards possible. Working on assignments based on contingency fees is not something we can consider. That means we are not able to agree to do an appraisal report and collect the fee only if the loan closes. There's a definite conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice clearly describes 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" in addition to other situations We follow these rules to the letter which means you can be assured we are doing everything we can to get you an accurate home or property value. With JC Reynolds Appraisals, Inc., you won't have any doubts that you're getting 100 percent ethical, honest service. |
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