Honesty and Integrity: Pocono Mountain Appraisal, Inc.We think of our business as a profession. The rigors of becoming a certified appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.An appraiser's chief obligation is to their client. Normally, for a typical residential appraisal, 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 data, and like an attorney, can only discuss many of these matters with their client. As a homeowner, if you would like to review the appraisal document, you normally should request it from your lender.
Appraisers may sometimes have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. 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 order.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - something else Pocono Mountain Appraisal, Inc. diligently adheres to. When creating reports, we follow the highest ethical standards possible. Working on orders where our fee is dependent on our value conclusion is never an option. That means we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. There's an obvious conflict of interest if an appraiser can report a larger value and then get paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice explicitly states 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" in addition to other situations We follow these rules to the letter which means you can be confident we are doing everything we can to get you an accurate home or property value. When you engage Pocono Mountain Appraisal, Inc., we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |
|||||||||
