For honest and ethical appraisals, count on Nordquist Appraisal LLC
By and large, appraising a long term career. 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 unquestionably be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have quite a few obligations as appraisers but first and foremost we answer to our clients. Normally, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like to obtain a copy of the appraisal document, you should get it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, reaching and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. 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 performing competent and ethically superior appraisals. To learn more Contact us
Appraisers can also have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - at Nordquist Appraisal LLC you can rest assured that we adhere to that rule.
We require the highest ethical standards possible from ourselves. We don't 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. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other improper practices may be established by state law or professional organizations 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," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing 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.