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 Honesty and Integrity: Ocean Appraisals, LLC.
We think of what we do as a profession. The rigors of becoming 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 called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
We have many responsibilities as appraisers, but our main duty is to our clients.
Typically, for a normal residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
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 desire a copy of an appraisal report, you generally have to request it from your lender instead of the appraiser.
Other responsibilities include accurate calculations appropriate to the parameters of the assignment, acquiring and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Ocean Appraisals, LLC., we take these ethical responsibilities very to heart.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
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Ocean Appraisals, LLC. has an established track record for performing appraisals with the highest of ethics. To learn more, contact us. |
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There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else Ocean Appraisals, LLC. diligently adheres to.
We demand the highest professional integrity possible from ourselves.
Accepting orders where our fee is dependent on our value conclusion is never an option.
That is, we are not able to agree to do an appraisal report and get paid only if the loan closes.
Anyone should be able to see that inflating a value to achieve essentially a higher paycheck is unethical!
This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly defines unethical behavior 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 follow these rules to the letter which means you can be confident we are working hard to get you an accurate home or property value.
With Ocean Appraisals, LLC., you can be assured of 100 percent ethical, honest service.
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