![]() For honest and ethical appraisals, count on Shell PAS Enterprises, LLCAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
An appraiser's primary responsibility is to their client.
Most of the time, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
Thereon, appraisers have certain duties of confidentiality to their clients, plus strict rules and regulations that must be followed. As
a homeowner, if you would like to obtain a copy of an appraisal report, you generally have to request it through your lender instead of the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - something else Shell PAS Enterprises, LLC diligently adheres to. We demand the highest professional integrity possible from ourselves. Accepting assignments based on contingency fees is never an option. That means we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. There's certainly a conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice clearly 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 diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value. As soon as you order an appraisal from Shell PAS Enterprises, LLC, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |