Early Edition, Inc. upholds the highest professional ethics
We think of our business as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
For an appraiser the main obligation is to his or her client. Normally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want a copy of an appraisal report, you generally have to get it through your lender. Other obligations also include, accurate figures appropriate to the scope of the assignment, reaching and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is just normal course of business for us at Early Edition, Inc..
Early Edition, Inc. has worked hard for its track record for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - at Early Edition, Inc. you can rest assured that we adhere to that rule.
When creating reports, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "the amount of a value opinion," in addition to other situations We follow these rules to the letter which means you can be confident we are doing everything we can to objectively determine the home or property value.
When you engage Early Edition, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.