 Honesty and Integrity: Parkway Appraisal GroupGenerally, appraising is a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many obligations as appraisers, but our primary duty is to our clients.
Normally, 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.
Subsequently, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you would like to obtain a copy of the appraisal document, you generally should obtain it from your lender instead of the appraiser.
Appraisers will often be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility 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.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Parkway Appraisal Group diligently adheres to. We require the highest ethical standards possible from ourselves. Working on orders where our fee is dependent on our value conclusion is not something we can consider. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that inflating a value to achieve essentially a higher paycheck is unethical! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice explicitly 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", 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 going above and beyond to provide an unbiased determination of the home or property value. When you engage Parkway Appraisal Group, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |
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