For honest and ethical appraisals, count on Crosson & AssociatesWe think of our job as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
An appraiser's chief obligation is to their client.
Generally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you want to obtain a copy of an appraisal report, you generally have to request it via your lender and not the appraiser.
Appraisers can sometimes have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Crosson & Associates diligently adheres to.
We only perform to the highest ethical standards possible. Working on orders based on contingency fees is never an option. That means we don't agree to do an appraisal report and collect the fee only if the loan closes. There's a definite conflict of interest if an appraiser can report a greater value and then get paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") 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" as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.
With Crosson & Associates, you can be assured of 100 percent ethical, honest service.