![]() For honest and ethical appraisals, rely on DPOE, Inc.Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can certainly be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
The appraiser's chief responsibility is to their client.
Normally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that 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 review the appraisal document, you normally should get it from your lender and not the appraiser.
Appraisers can regularly have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - something else DPOE, Inc. makes a part of their standard routine. We demand the highest ethical standards possible from ourselves. Accepting orders based on contingency fees is not something we can consider. In other words, we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's an obvious 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 (or simply "USPAP") explicitly 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" in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value. As soon as you order an appraisal from DPOE, Inc., we'll make sure you're getting the professional service you expect along with the business principles we're known for. |
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