Kennedy Appraisals upholds the highest professional ethics
Appraising is typically a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a lot of obligations as appraisers but first and foremost we answer to our clients. Most of the time, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you want to review the appraisal document, you should request it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Kennedy Appraisals.
Kennedy Appraisals has worked hard for its reputation for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - at Kennedy Appraisals you can rest assured that we stick to that rule.
We meet or beat the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Doing orders on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite appraisal fraud since raising the value of the home would up the fee. We don't do that. Other unethical practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 assured we are working hard to objectively determine the home or property value.
When you engage Kennedy Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.