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Appraisal Authority LLC - Kevin Burkhardt upholds the highest professional ethicsWe consider our business as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
An appraiser's chief obligation is to their client. 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 hired in order to maintain independence. Consequently, appraisers have certain duties of confidentiality to their clients, plus many rules and regulations that must be followed. So, as a homeowner, if you desire to obtain a copy of an appraisal report, you generally should get it from your lender instead of the appraiser.
Other responsibilities include numerical accuracy depending on the assignment parameters, reaching and maintaining an appropriate level of competency and education, and naturally, the appraiser must bear a professional demeanor. Here at Appraisal Authority LLC - Kevin Burkhardt, we take these ethical responsibilities very to heart.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
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Appraisal Authority LLC - Kevin Burkhardt has worked hard for its track record for providing appraisals with the highest of ethics. To learn more, contact us. |
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There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else Appraisal Authority LLC - Kevin Burkhardt diligently adheres to.
We demand the highest ethical standards possible from ourselves. Doing assignments based on contingency fees is not something we can consider. In other words, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's a definite conflict of interest if an appraiser can report a greater value with the reward of getting paid more money!
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly defines a violation in ethics 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", or "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.
With Appraisal Authority LLC - Kevin Burkhardt, you can be assured of 100 percent ethical, honest service.
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