For honest and ethical appraisals, rely on Peak Appraisals, Inc.Appraising is a profession, and appraisers are professionals. Requirements to become 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 certainly be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
An appraiser's main responsibility is to their client.
More often than not, for a normal 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 data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you would like to review the appraisal document, you normally have to get it via your lender.
Appraisers will frequently be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - something else Peak Appraisals, Inc. diligently adheres to.
We only perform to the highest ethical standards possible. Doing assignments based on contingency fees is never an option. That means we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. There's an obvious conflict of interest if an appraiser can report a greater value and then get paid more money! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly states unethical behavior as accepting 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 diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value.
With Peak Appraisals, Inc., you can be assured of 100 percent ethical, professional service.