Honesty and Integrity: Eagle Appraisals MN, IncWe consider what we do as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. As with any profession we are bound by an ethical code.
We have a great deal of responsibilities as appraisers, but our primary duty is to our clients.
Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has contracted in order to maintain independence.
Thereon, appraisers are typically limited to only disclosing their findings to their clients, so as
a homeowner, if you would like to review the appraisal document, you normally should request it from your lender instead of the appraiser.
Appraisers may sometimes have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is limited to those 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 duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Eagle Appraisals you can rest assured that we stick to that rule.
We only perform to the highest ethical standards possible. Doing orders based on contingency fees is never an option. In other words, we can't 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 fabricating a home's value to achieve a bigger fee is unethical!
Finally, the Uniform Standards of Professional Appraisal Practice clearly states 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" in addition to other situations We follow these rules to the letter which means you can be assured we are working hard to get you an accurate home or property value.
When you request an appraisal from Eagle Appraisals, we'll make sure you're getting the professional service you expect along with the business principles we're known for.