Nordquist Appraisal LLC maintains the utmost professional ethics
We consider our what we do a profession. 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 certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have a lot of responsibilities as appraisers but above everything we answer to our clients. Most of the time, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to obtain a copy of the appraisal document, you generally have to obtain it from your lender. Other obligations also include, accurate calculations appropriate to the nature of the report, attaining and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is standard operating procedure for us at Nordquist Appraisal LLC.
Nordquist Appraisal LLC has worked hard for its track record for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - something else Nordquist Appraisal LLC diligently adheres to.
We require the highest ethical standards possible from ourselves. Doing orders on contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics 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," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.
With Nordquist Appraisal LLC, you can be assured of 100 percent ethical, honest service.