Faubion Appraisals upholds the utmost professional ethicsAppraising is, by and large, a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have quite a few responsibilities as appraisers, but our main duty is to our clients.
Most of the time, in residential practice, the lender (or an agent of 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 of these matters with their client. As
a homeowner, if you desire to obtain a copy of the appraisal document, you normally should obtain it through your lender and not the appraiser.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - something else Faubion Appraisals makes a part of their standard routine.
When creating reports, we follow the highest ethical standards possible. Doing orders where our fee is dependent on our value conclusion is not something we can consider. In other words, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that fabricating a home's value to achieve essentially a bigger paycheck is unethical! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice clearly describes unethical behavior 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", or "the amount of a value opinion" as well as other situations. We diligently follow these rules to the letter which means you can be confident we are going above and beyond to get you an accurate home or property value.
As soon as you engage Faubion Appraisals, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for.