TXMetro Property Group LLC upholds the utmost professional ethics
Appraising is generally a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.
We have a lot of responsibilities as appraisers but above everything we answer to our clients. Generally, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want to obtain a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at TXMetro Property Group LLC, we take these ethical responsibilities very seriously.
TXMetro Property Group LLC has worked hard for its reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will frequently be required to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - something else TXMetro Property Group LLC makes a part of their standard routine.
When creating reports, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite appraisal fraud since raising the value of the home would raise the their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies 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 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 engage TXMetro Property Group LLC 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.