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 For honest and ethical appraisals, count on Belles Appraisal Service, LLC
We consider our business as a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we are bound by an ethical code.
The appraiser's primary obligation is to their client.
Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Thereon, 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 to obtain a copy of an appraisal report, you normally have to obtain it from your lender and not the appraiser.
Other responsibilities include accurate calculations appropriate to the scope of the report, reaching and maintaining a certain level of competency and education, and naturally, the appraiser must bear a professional demeanor. Maintaining high ethics is standard operating procedure for us at Belles Appraisal Service, LLC.
Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
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Belles Appraisal Service, LLC has worked hard for its reputation for performing competent and ethically superior appraisals. To learn more, contact us. |
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There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Belles Appraisal Service, LLC takes very seriously.
When creating reports, we follow the highest ethical standards possible.
Accepting assignments where our fee is dependent on our value conclusion is never an option.
In other words, we can't agree to do an appraisal report and get paid only if the loan closes.
There's a definite conflict of interest if an appraiser can report an unsubstantiated value and then get paid more money!
This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly defines 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", or "the amount of a value opinion" as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.
With Belles Appraisal Service, LLC, you won't have any doubts that you're receiving 100 percent ethical, honest service.
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