CFour Appraisals, Inc. maintains the utmost professional ethicsAppraising is typically a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be called 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.
Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Certain elements relating to an assignment are to be discussed exclusively with the appraiser's client. As
a homeowner, if you would like to review the appraisal document, you normally have to obtain it from your lender.
Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at CFour Appraisals, Inc. you can rest assured that we abide by that rule.
We only perform to the highest ethical standards possible. Working on assignments based on contingency fees is not something we can consider. That means we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. It should be obvious that inflating a value to achieve what amounts to a higher fee is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly states 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" 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 provide an unbiased determination of the home or property value.
As soon as you engage CFour Appraisals, Inc., we'll make sure you're getting the professional service you expect along with the principles we're known for.