Honesty and Integrity: Marlowe Appraisal & RE Inc.We consider our job as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many obligations as appraisers, but our main duty is to our clients.
More often than not, for a regular 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.
Thereon, appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you want to obtain a copy of an appraisal report, you normally have to get it through your lender and not the appraiser.
Appraisers will regularly be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - at Marlowe Appraisal & RE Inc. you can rest assured that we adhere to that rule.
When working on an order, we follow the highest ethical standards possible. Doing assignments based on contingency fees is not something we can consider. That means we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. There's an obvious 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 explicitly defines 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", or "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 get you an accurate home or property value.
When you order an appraisal from Marlowe Appraisal & RE Inc., we'll make sure you're getting the professional service you deserve along with the business principles we're known for.