Honesty and Integrity: Sleadd Appraisals 502.291.5588Appraising is typically a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
An appraiser's chief responsibility is to their client.
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 brought in to maintain independence.
Consequently, appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you want a copy of the appraisal document, you normally have to get it through your lender.
Appraisers will often be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - at Sleadd Appraisals 502.291.5588 you can rest assured that we abide by that rule.
We meet or exceed the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. Working on orders based on contingency fees is not something we can consider. That means we can't agree to do an appraisal report and get paid only if the loan closes. It should be apparent to anyone that inflating a value to achieve essentially a higher fee is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") 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" as well as other situations. We follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.
As soon as you order an appraisal from Sleadd Appraisals 502.291.5588, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for.