Honesty and Integrity: CaliHaus Appraisals, Inc.
We think of our business as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession rather than a trade. As with any profession we are bound by an ethical code.
We have a lot of obligations as appraisers but above everything we answer to our clients. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to obtain a copy of the appraisal document, you should obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at CaliHaus Appraisals, Inc., we take these ethical responsibilities very seriously.
CaliHaus Appraisals, Inc. has worked hard for its reputation for providing appraisals with the highest of ethics. To learn more Contact us
Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - at CaliHaus Appraisals, Inc. you can rest assured that we adhere to that rule.
When creating reports, we follow the highest ethical standards possible. Working on orders that contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the estimate of the home would inflate the fee. We don't do that. Other unethical practices may be defined by state law or professional organizations 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
As soon as you order an appraisal from CaliHaus Appraisals, 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.