Blake Appraisal Corp. upholds the highest professional ethicsWe think of our job as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have a great deal of obligations as appraisers, but first and foremost we answer to our clients. Typically, 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 hired in order to maintain independence. Thereon, appraisers have certain duties of privacy to their clients, plus many rules and regulations to which we must adhere. So, as a homeowner, if you want a copy of the appraisal document, you generally have to obtain it via your lender instead of the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is limited 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.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - something else Blake Appraisal Corp. takes very seriously.
We demand the highest ethical standards possible from ourselves. Working on orders based on contingency fees is not something we can consider. That means we can't agree to do an appraisal report and collect the fee only if the loan closes. Anyone should be able to see that fabricating a property's value to achieve a higher paycheck is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly defines 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" as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.
As soon as you order an appraisal from Blake Appraisal Corp., we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for.