For honest and ethical appraisals, count on The August Group Inc.
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we are bound by ethical considerations.
We have many obligations as appraisers but our chief duty is to our clients. Generally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like a copy of an appraisal report, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is is what we do everyday at The August Group Inc..
The August Group Inc. has worked hard for its track record for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will frequently need to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - something else The August Group Inc. makes a part of their standard routine.
We demand the highest professional integrity possible from ourselves. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite fraudulent practices since increasing the value of the home would raise the fee. We don't do that. Other unprofessional practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "the amount of a value opinion," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.
With The August Group Inc., you won't have any doubts that you're receiving 100 percent ethical, professional service.