![]() For honest and ethical appraisals, trust KH AppraisalsWe consider what we do 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 in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we have a strict ethical code.
We have a great deal of responsibilities as appraisers, but our chief duty is to our clients.
Typically, in residential practice, 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.
It follows that appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you desire to obtain a copy of the appraisal document, you generally should obtain it from your lender.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of 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 standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - at KH Appraisals you can rest assured that we adhere to that rule. We require the highest professional integrity possible from ourselves. Working on orders based on contingency fees is not something we can consider. In other words, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's a definite conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice also 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 be at ease knowing we are working hard to objectively determine the home or property value. As soon as you order an appraisal from KH Appraisals, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |