Honesty and Integrity: A.M.O. Appraisals, Inc.Generally, appraising is a long term career. 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 definitely be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
The appraiser's chief 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.
Certain matters pertaining to an assignment are to be discussed exclusively with the appraiser's client. As
a homeowner, if you would like a copy of an appraisal report, you normally have to get it through your lender and not the appraiser.
Appraisers will frequently be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - at A.M.O. Appraisals, Inc. you can rest assured that we abide by that rule.
When creating reports, we follow the highest ethical standards possible. Working on assignments based on contingency fees is not something we can consider. In other words, we can't agree to do an appraisal report and get paid only if the loan closes. It should be apparent to anyone that inflating a value to achieve what amounts to a higher paycheck is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also states 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 working hard to get you an accurate home or property value.
With A.M.O. Appraisals, Inc., you can be assured of 100 percent ethical, professional service.