For honest and ethical appraisals, count on The August Group Inc.
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a great deal of obligations as appraisers but our main duty is to our clients. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire a copy of the appraisal document, you normally have to obtain it from your lender. Other obligations also include, accurate sums appropriate to the scope of the report, acquiring and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at The August Group Inc., we take these ethical responsibilities very to heart.
The August Group Inc. has worked hard for its track record for completing competent and ethically superior appraisals. To learn more Contact us
Appraisers will regularly be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters 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 at least five years - at The August Group Inc. you can rest assured that we stick to that rule.
The August Group Inc. holds itself to the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite appraisal fraud since increasing the estimate of the home would up the fee. We don't do that. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.
With The August Group Inc., you can be assured of 100 percent ethical, professional service.