![]() For honest and ethical appraisals, count on Sigler Appraisals, LLCWe think of our job as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.
We have many obligations as appraisers, but our main duty is to our clients.
Normally, 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.
Thereon, appraisers are typically restricted to only disclosing their findings to their clients, so as
a homeowner, if you would like to review an appraisal report, you generally have to get it via your lender and not the appraiser.
Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - at Sigler Appraisals, LLC you can rest assured that we adhere to that rule. Sigler Appraisals, LLC holds itself to the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Accepting assignments where our fee is dependent on our value conclusion is never an option. In other words, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. There's certainly a conflict of interest if an appraiser can report an unsubstantiated value with the reward of getting paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly 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", 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 working hard to objectively determine the home or property value. With Sigler Appraisals, LLC, you can be assured of 100 percent ethical, professional service. |