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 Los Gatos Appraisal Service, Inc maintains the utmost professional ethics
By and large, appraising is a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have quite a few responsibilities as appraisers, but above everything we answer to our clients.
Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that appraisers have certain duties of privacy to their clients, plus many rules and regulations that must be followed. So, as
a homeowner, if you desire to obtain a copy of an appraisal report, you generally have to obtain it via your lender instead of the appraiser.
Other obligations include accurate sums appropriate to the nature of the assignment, reaching and keeping a respectable level of competency and education, and naturally, the appraiser must bear a professional demeanor. Maintaining high ethics is just normal course of business for us at Los Gatos Appraisal Service, Inc.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
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Los Gatos Appraisal Service, Inc has worked hard for its track record for producing competent and ethically superior appraisals. Contact us today to learn more. |
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Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Los Gatos Appraisal Service, Inc makes a part of their standard routine.
Los Gatos Appraisal Service, Inc holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves.
Accepting assignments where our fee is dependent on our value conclusion is not something we can consider.
That is, we can't agree to do an appraisal report and get paid only if the loan closes.
Anyone should be able to see that inflating a value to achieve essentially a higher fee is unethical!
We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice also describes 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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to get you an accurate home or property value.
When you order an appraisal from Los Gatos Appraisal Service, Inc, we'll make sure you're getting the professional service you expect along with the principles we're known for.
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