Omisore Real Estate Appraisals Inc. upholds the utmost professional ethics
We consider our our business a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
As appraisers our primary responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want a copy of an appraisal report, you generally have to get it from your lender. Other obligations also include, accurate sums appropriate to the parameters of the assignment, acquiring and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Omisore Real Estate Appraisals Inc., we take these ethical responsibilities very to heart.
Omisore Real Estate Appraisals Inc. has an established reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can sometimes have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Omisore Real Estate Appraisals Inc. you can rest assured that we stick to that rule.
We only perform to the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we are not able to 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 most important rule, because it would invite appraisal fraud since increasing the value of the home would raise the their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations to which an 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," in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.
With Omisore Real Estate Appraisals Inc., you won't have any doubts that you're getting 100 percent ethical, honest service.