Honesty and Integrity: Biggs Appraisal Services
Appraising 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 called a profession rather than a trade. As with any profession we have a strict ethical code.
An appraiser's main obligation is to their client. Typically, for a regular 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 desire a copy of the appraisal document, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Biggs Appraisal Services, we take these ethical responsibilities very to heart.
Biggs Appraisal Services has worked hard for its track record for producing appraisals with the highest of ethics. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - at Biggs Appraisal Services you can rest assured that we abide by that rule.
We only perform to the highest ethical standards possible. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite appraisal fraud since increasing the value of the home would increase the fee. We don't do that. Other improper practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
With Biggs Appraisal Services, you won't have any doubts that you're receiving 100 percent ethical, professional service.