![]() Honesty and Integrity: Steve Houston Appraisals, IncWe consider what we do as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have many obligations 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.
Appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you desire a copy of the appraisal document, you generally have to get it via your lender and not the appraiser.
Appraisers will often be required to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
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 Steve Houston Appraisals, Inc diligently adheres to. We only perform to the highest ethical standards possible. Doing orders 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 collect the fee only if the loan closes. Anyone should be able to see that fabricating a property's value to achieve essentially a bigger fee is unethical! Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly 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 follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value. When you request an appraisal from Steve Houston Appraisals, Inc, we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for. |
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