JAD Appraisal Services LLC maintains the highest professional ethicsAppraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
An appraiser's primary obligation is to their client.
Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Thereon, appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you would like to obtain a copy of the appraisal document, you normally have to get it through your lender.
Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - at JAD Appraisal Services, LLC you can rest assured that we abide by that rule.
We only perform to the highest ethical standards possible. Working on orders where our fee is dependent on our value conclusion is not something we can consider. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. It should be obvious that inflating a value to achieve what amounts to a bigger fee is unethical!
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly defines a violation in ethics 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" as well as other situations. We diligently follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.
When you order an appraisal from JAD Appraisal Services, LLC, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for.