PR Appraisal Services, LLC upholds the utmost professional ethicsAppraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we are bound by an ethical code.
An appraiser's main responsibility is to their client.
Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Consequently, appraisers are typically restricted to only disclosing their findings to their clients, so as
a homeowner, if you would like to obtain a copy of an appraisal report, you normally should obtain it through your lender and not the appraiser.
Appraisers may frequently have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - something else PR Appraisal Services, LLC makes a part of their standard routine.
We demand the highest ethical standards possible from ourselves. Accepting orders where our fee is dependent on our value conclusion is not something we can consider. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. Anyone should be able to see that inflating a value to achieve essentially a bigger paycheck is unethical!
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly 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", or "the amount of a value opinion" in addition to 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 PR Appraisal Services, LLC, you won't have any doubts that you're getting 100 percent ethical, professional service.