For honest and ethical appraisals, trust Rhoden Appraisal Service LLCAppraising is a profession, and appraisers are professionals. The rigors of becoming 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 unquestionably be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
We have a great deal of responsibilities as appraisers, but our chief duty is to our clients. Typically, 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 a copy of the appraisal document, you normally should request it from your lender instead of the appraiser.
Appraisers can regularly have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is limited to those 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 duties outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - something else Rhoden Appraisal Service LLC takes very seriously.
Rhoden Appraisal Service LLC holds itself to the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. Accepting 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. There's a definite conflict of interest if an appraiser can report a greater value and then get paid more money! We set ourselves to a higher standard.
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 diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to get you an accurate home or property value.
When you engage Rhoden Appraisal Service LLC, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for.