 Honesty and Integrity: Cooper Turner Appraisals, Inc.Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
We have quite a few responsibilities as appraisers, but above everything we answer to our clients.
Generally, for a standard 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 brought in to maintain independence.
Certain details pertaining to an assignment are to be shared exclusively with the appraiser's client. So, as
a homeowner, if you desire a copy of an appraisal report, you normally have to obtain it through your lender.
Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary role is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - at Cooper Turner Appraisals, Inc. you can rest assured that we adhere to that rule. We only perform to the highest ethical standards possible. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. That means we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that inflating a value to achieve essentially a higher paycheck is unethical! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also 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" as well as other situations. We diligently follow these rules to the letter which means you can be assured we are working hard to get you an accurate home or property value. When you engage Cooper Turner Appraisals, Inc., we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for. |
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