Forney Appraisal Services, Inc. upholds the highest professional ethics
We think of our job as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can certainly be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
For an appraiser the primary responsibility is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you desire to obtain a copy of an appraisal report, you normally have to request it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the report, acquiring and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is is what we do everyday at Forney Appraisal Services, Inc..
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Appraisers may also have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited 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 with whom we share information For example, appraisers must be able to produce their work files for at least five years - something else Forney Appraisal Services, Inc. takes very seriously.
Forney Appraisal Services, Inc. holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to 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 probably the appraisal professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.
With Forney Appraisal Services, Inc., you can be assured of 100 percent ethical, honest service.