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 Triangle Appraisal, Ltd. maintains the utmost professional ethics
We consider our business as a profession. Requirements to become 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 considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have a lot of responsibilities as appraisers, but our chief duty is to our clients.
Typically, for a normal residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you want to review an appraisal report, you generally should obtain it via your lender.
Other obligations include numerical accuracy depending on the assignment parameters, reaching and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Triangle Appraisal, Ltd..
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is restricted 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.
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Triangle Appraisal, Ltd. has an established track record for producing appraisals with the highest of ethics. To learn more, contact us. |
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There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else Triangle Appraisal, Ltd. diligently adheres to.
We require the highest professional integrity possible from ourselves.
Doing assignments where our fee is dependent on our value conclusion is not something we can consider.
In other words, we don't agree to do an appraisal report and collect the fee only if the loan closes.
There's certainly a conflict of interest if an appraiser can report a greater value and then get paid more money!
We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.
With Triangle Appraisal, Ltd., you can be assured of 100 percent ethical, honest service.
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