Omni Appraisal Services maintains the utmost professional ethicsWe consider what we do 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 in this day and age that real estate appraisal can certainly be considered a profession as opposed to a trade. As with any profession we are bound by ethical considerations.
The appraiser's chief responsibility is to their client.
Typically, for a normal residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Certain elements pertaining to an assignment are to be shared with the appraiser's client. So, as
a homeowner, if you desire to review an appraisal report, you normally should request it through your lender instead of the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else Omni Appraisal Services diligently adheres to.
When working on an appraisal, we follow the highest ethical standards possible. Working on assignments where our fee is dependent on our value conclusion is never an option. In other words, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. There's a definite conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice clearly 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 assured we are going above and beyond to provide an unbiased determination of the home or property value.
With Omni Appraisal Services, you won't have any doubts that you're receiving 100 percent ethical, honest service.