Lobos Appraisers upholds the utmost professional ethicsAppraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
An appraiser's chief responsibility is to their client.
Typically, for a standard residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Thereon, 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 would like to review an appraisal report, you generally have to get it from your lender.
Appraisers can also have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are specifically 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 assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Lobos Appraisers diligently adheres to.
We meet or exceed the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. Doing orders where our fee is dependent on our value conclusion is never an option. That is, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. It should be apparent to anyone that inflating a value to achieve what amounts to a higher fee is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly states 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 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.
As soon as you engage Lobos Appraisers, we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for.