Hardesty Appraisals, LLC maintains the highest professional ethicsWe think of our business as a profession. 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 definitely be called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
An appraiser's chief responsibility is to their client.
Generally, for a normal 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 contracted in order to maintain independence.
Certain elements relating to an assignment are to be discussed exclusively with the appraiser's client. As
a homeowner, if you want to obtain a copy of the appraisal document, you normally should obtain it through your lender and not 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 duty is only to those third 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 whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else Hardesty Appraisals, LLC diligently adheres to.
Hardesty Appraisals, LLC holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. In other words, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that inflating a value to achieve what amounts to a bigger fee is unethical! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be confident we are going above and beyond to get you an accurate home or property value.
With Hardesty Appraisals, LLC, you won't have any doubts that you're getting 100 percent ethical, professional service.