REID E. CHOATE & ASSOCIATES, LLC upholds the utmost professional ethics

We consider our our business a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have a lot of responsibilities as appraisers but our chief duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to obtain a copy of the appraisal document, you should request it from your lender. Other obligations also include, accurate figures appropriate to the nature of the assignment, acquiring and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at REID E. CHOATE & ASSOCIATES, LLC, we take these ethical responsibilities very seriously.

REID E. CHOATE & ASSOCIATES, LLC provides honest and ethical appraisals for Hawaii County

REID E. CHOATE & ASSOCIATES, LLC has worked hard for its reputation for providing competent and ethically superior appraisals. Contact us today to learn more.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty 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 assignment.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - something else REID E. CHOATE & ASSOCIATES, LLC takes very seriously.

When working on an appraisal, we follow the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we are not able to 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 biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "the amount of a value opinion," in addition to other situations We follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value.

When you engage 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.