For honest and ethical appraisals, rely on The Nunn Company Residential Appraisals LLC
We think of what we do as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a lot of obligations as appraisers but our main duty is to our clients. Generally, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you require to review an appraisal report, you should request it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and sustaining a respectable 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 The Nunn Company Residential Appraisals LLC.
The Nunn Company Residential Appraisals LLC has worked hard for its reputation for completing competent and ethically superior appraisals. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
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 The Nunn Company Residential Appraisals LLC takes very seriously.
The Nunn Company Residential Appraisals LLC holds itself to the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "the amount of a value opinion," as well as 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.
With The Nunn Company Residential Appraisals LLC, you won't have any doubts that you're receiving 100 percent ethical, professional service.