For honest and ethical appraisals, rely on August Schultz & Associates Inc.Appraising is, by and large, a long term career. 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 rather than a trade. As with any profession we have a strict ethical code.
The appraiser's chief responsibility is to their client.
More often than not, in residential practice, 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.
Certain elements relating to an assignment are to be shared exclusively with the appraiser's client. As
a homeowner, if you would like a copy of an appraisal report, you generally have to request it from your lender instead of the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser is aware of, 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 - something else August Schultz & Associates Inc. 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. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that fabricating a home's value to achieve what amounts to a higher paycheck is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice clearly describes a violation in ethics as accepting 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 diligently follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.
With August Schultz & Associates Inc., you can be assured of 100 percent ethical, professional service.