![]() Grizzly Appraising maintains the utmost professional ethicsAppraising is typically a long term career. 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 dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.We have quite a few responsibilities as appraisers, but above everything we answer to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has brought in to maintain independence. It follows that appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As a homeowner, if you want to obtain a copy of an appraisal report, you generally should get it through your lender.
Appraisers can regularly have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third 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 rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at Grizzly Appraising you can rest assured that we abide by that rule. When creating reports, we follow the highest ethical standards possible. Working on assignments 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 get paid only if the loan closes. Anyone should be able to see that inflating a value to achieve essentially a bigger paycheck is unethical! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice also describes 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" in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value. When you order an appraisal from Grizzly Appraising, we'll make sure you're getting the professional service you deserve along with the business principles we're known for. |