For honest and ethical appraisals, rely on Nordquist Appraisal LLC
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to a trade. 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. Normally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require a copy of an appraisal report, you generally have to request it from your lender. Other responsibilities also include, accurate figures appropriate to the nature of the assignment, attaining and sustaining an adequate 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 Nordquist Appraisal LLC.
Nordquist Appraisal LLC has an established track record for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will frequently need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else Nordquist Appraisal LLC makes a part of their standard routine.
We only perform to the highest ethical standards possible. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would increase the their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "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.
With Nordquist Appraisal LLC, you can be assured of 100 percent ethical, honest service.