Silverpilen Corp. upholds the utmost professional ethics
We consider our our business a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days 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.
An appraiser's main obligation is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want to review an appraisal report, you normally have to obtain it from your lender. Other obligations also include, accurate sums appropriate to the parameters of the report, reaching and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Silverpilen Corp., we take these ethical responsibilities very to heart.
Silverpilen Corp. has an established reputation for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will regularly be obligated to consider the interests of third parties, including homeowners, both buyers and sellers, 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 assignment.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Silverpilen Corp. makes a part of their standard routine.
When working on an order, we follow the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would tend to make appraisers raise 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 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.
With Silverpilen Corp., you won't have any doubts that you're receiving 100 percent ethical, professional service.