![]() CAS Appraisal Services, LLC upholds the utmost professional ethicsTypically, appraising is a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed 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 above everything we answer to our clients.
More often than not, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Subsequently, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you want to review the appraisal document, you normally have to request it through your lender instead of the appraiser.
Appraisers can sometimes have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role is restricted 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 rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - something else CAS Appraisal Services, LLC diligently adheres to. CAS Appraisal Services, LLC holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. Accepting assignments based on contingency fees is never an option. That is, we don't 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 what amounts to a bigger paycheck is unethical! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also describes 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", or "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 get you an accurate home or property value. As soon as you request an appraisal from CAS Appraisal Services, LLC, we'll make sure you're getting the professional service you expect along with the business principles we're known for. |