Honesty and Integrity: R Fadden Appraisals

Appraising is a profession, and appraisers are professionals. 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 unquestionably be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.

The appraiser's primary responsibility is to his or her client. More often than not, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like to obtain a copy of an appraisal report, you should get it through your lender. Other obligations also include, accurate figures appropriate to the parameters of the assignment, reaching and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at R Fadden Appraisals, we take these ethical responsibilities very seriously.

R Fadden Appraisals provides honest and ethical appraisals for Volusia County

R Fadden Appraisals has worked hard for its track record for providing competent and ethically superior appraisals. Contact us today to learn more.

Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - at R Fadden Appraisals you can rest assured that we stick to that rule.

We require the highest professional integrity possible from ourselves. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "the amount of a value opinion," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

When you request an appraisal from R Fadden Appraisals 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.