Fairway Appraisal Services maintains the utmost professional ethicsAppraising is generally a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we are bound by an ethical code.
The appraiser's primary obligation is to their client.
Normally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Appraisers have certain duties of confidentiality to their clients, plus many rules and regulations controlling with whom we share information. So, as
a homeowner, if you want to obtain a copy of the appraisal document, you generally should get it through your lender and not the appraiser.
Appraisers can frequently have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - something else Fairway Appraisal Services takes very seriously.
We only perform to the highest ethical standards possible. Accepting orders based on contingency fees is never an option. That is, 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 inflating a value to achieve a bigger paycheck is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice clearly 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 diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.
When you engage Fairway Appraisal Services, we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for.