Honesty and Integrity: REID E. CHOATE & ASSOCIATES, LLC
Typically, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
The appraiser's chief responsibility is to their client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want to obtain a copy of the appraisal document, you generally have to obtain it through your lender. Other obligations also include, accurate sums appropriate to the scope of the report, reaching and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at REID E. CHOATE & ASSOCIATES, LLC, we take these ethical responsibilities very seriously.
REID E. CHOATE & ASSOCIATES, LLC has worked hard for its reputation for performing appraisals with the highest of ethics. To learn more Contact us
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - something else REID E. CHOATE & ASSOCIATES, LLC takes very seriously.
We only perform to the highest ethical standards possible. Working on assignments that contingency fees 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. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We don't do that. Other improper practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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," 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 objectively determine the home or property value.
As soon as you request an appraisal from REID E. CHOATE & ASSOCIATES, LLC we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.