Troyer Appraisal Solutions, LLC. maintains the utmost professional ethicsAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. So 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 must follow strict ethical considerations.
The appraiser's main obligation is to their client.
Normally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Consequently, appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you want to obtain a copy of an appraisal report, you normally should get it from your lender instead of the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary role is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else Troyer Appraisal Solutions, LLC. takes very seriously.
We meet or exceed the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. Doing assignments where our fee is dependent on our value conclusion is never an option. That means we are not able to 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 an unsubstantiated value with the reward of getting paid more money! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also describes unethical behavior 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", or "the amount of a value opinion" as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to get you an accurate home or property value.
With Troyer Appraisal Solutions, LLC., you can be assured of 100 percent ethical, professional service.