For honest and ethical appraisals, count on JLD Evaluation, Inc.We consider our job as a profession. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we are bound by ethical considerations.
We have a lot of responsibilities as appraisers, but our primary duty is to our clients.
Generally, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has brought in to maintain independence.
Certain matters relating to an assignment are to be discussed with the appraiser's client. So, as
a homeowner, if you want to obtain a copy of an appraisal report, you generally should get it from your lender and not the appraiser.
Appraisers will regularly be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at JLD Evaluation, Inc. you can rest assured that we abide by that rule.
While busy with an appraisal, we follow the highest ethical standards possible. Working on orders where our fee is dependent on our value conclusion is never an option. In other words, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. Anyone should be able to see that fabricating a property's value to achieve essentially a higher fee is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly describes 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to get you an accurate home or property value.
When you order an appraisal from JLD Evaluation, Inc., we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for.