Honesty and Integrity: The August Group Inc.
We think of our business as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
For an appraiser the primary obligation is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you desire to review the appraisal document, you should obtain it from your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the assignment, acquiring and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at The August Group Inc., we take these ethical responsibilities very seriously.
The August Group Inc. has worked hard for its track record for providing appraisals with the highest of ethics. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility 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 store their work files for at least five years - something else The August Group Inc. diligently adheres to.
We demand the highest professional integrity possible from ourselves. Doing assignments on contingency fees is never an option. That is, we don'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 probably the appraisal professions most important rule, because it would invite appraisal fraud since raising the estimate of the home would up the fee. We don't do that. Other improper practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 going above and beyond to provide an unbiased determination of the home or property value.
As soon as you request an appraisal from The August Group Inc. we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.