Honesty & Integrity:
Truex Residential Appraisers, Inc. and
Truex Appraisal Services, LLC
Typically, appraising is a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
An appraiser's main responsibility is to the appraiser's client. More often than not, in residential practice, 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 property owner, if you require to review the appraisal document, you have to get it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, acquiring and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Truex Residential Appraisers, Inc. & Truex Appraisal Services, LLC, we take these ethical responsibilities very seriously.
Truex Residential Appraisers, Inc. & Truex Appraisal Services, LLC has an established track record for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five (5) years - at Truex Residential Appraisers, Inc. & Truex Appraisal Services, LLC you can rest assured that we abide by that rule.
When creating reports, we follow the highest ethical standards possible. Working on assignments that contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would up the fee. We don't do that. Other unprofessional practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.
With Truex Residential Appraisers, Inc. & Truex Appraisal Services, LLC, you can be assured of one hundred percent ethical, professional service.