For honest and ethical appraisals, count on Hamaker Appraisal ServicesAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
The appraiser's chief responsibility is to their client.
Most of the time, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Subsequently, appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you desire to obtain a copy of an appraisal report, you normally have to request it from your lender and not the appraiser.
Appraisers may frequently have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - something else Hamaker Appraisal Services makes a part of their standard routine.
We meet or exceed the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. Accepting orders where our fee is dependent on our value conclusion is never an option. In other words, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. It should be apparent to anyone that inflating a value to achieve a higher paycheck is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice clearly states unethical behavior 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 assured we are going above and beyond to get you an accurate home or property value.
When you request an appraisal from Hamaker Appraisal Services, we'll make sure you're getting the professional service you expect along with the business principles we're known for.