GDB Appraisal Services, Inc upholds the highest professional ethics
By and large, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a lot of obligations as appraisers but above everything we answer to our clients. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to review an appraisal report, you normally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at GDB Appraisal Services, Inc.
GDB Appraisal Services, Inc has an established reputation for performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can often have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll 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 job.
There are also ethical duties 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 GDB Appraisal Services, Inc makes a part of their standard routine.
We demand the highest professional integrity possible from ourselves. Doing assignments on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would invite appraisal fraud since increasing the estimate of the home would increase the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "the amount of a value opinion," in addition to other situations We follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.
As soon as you request an appraisal from GDB Appraisal Services, Inc we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.