Honesty and Integrity: Legacy Appraisal Services, Inc.
We consider our our job a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
As appraisers our chief responsibility is to his or her client. More often than not, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like to obtain a copy of the appraisal document, you generally have to obtain it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at Legacy Appraisal Services, Inc..
Legacy Appraisal Services, Inc. has worked hard for its track record for producing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of third parties, including homeowners, sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at Legacy Appraisal Services, Inc. you can rest assured that we abide by that rule.
We demand the highest professional integrity possible from ourselves. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.
With Legacy Appraisal Services, Inc., you won't have any doubts that you're getting 100 percent ethical, professional service.