Honesty and Integrity: Robert Pasacrita Appraisals
Appraising is a profession, and appraisers are professionals. 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 unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a great deal of obligations as appraisers but our main duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to obtain a copy of the appraisal document, you generally have to get it through your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, reaching and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Robert Pasacrita Appraisals, we take these ethical responsibilities very to heart.
Robert Pasacrita Appraisals has worked hard for its reputation for providing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can frequently have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - something else Robert Pasacrita Appraisals makes a part of their standard routine.
We demand the highest ethical standards possible from ourselves. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics 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 rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.
As soon as you order an appraisal from Robert Pasacrita Appraisals 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.