Abell Appraisal Services, Inc. maintains the utmost professional ethicsAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have a great deal of obligations as appraisers, but our primary duty is to our clients.
Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that appraisers have certain duties of privacy to their clients, plus strict rules and regulations to which we must adhere. As
a homeowner, if you want to obtain a copy of the appraisal document, you generally should request it through your lender instead of the appraiser.
Appraisers will sometimes be obligated to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is limited to those 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 keep their work files for a minimum of five years - at Abell Appraisal Services, Inc. you can rest assured that we adhere to that rule.
We demand the highest ethical standards possible from ourselves. Accepting assignments based on contingency fees is not something we can consider. That means we can't agree to do an appraisal report and collect the fee only if the loan closes. There's a definite conflict of interest if an appraiser can report an unsubstantiated value with the reward of getting paid more money! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly defines 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 follow these rules to the letter which means you can be at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Abell Appraisal Services, Inc., you won't have any doubts that you're receiving 100 percent ethical, professional service.