Roadrunner Appraisals, Inc. maintains the highest professional ethicsWe think of what we do as a profession. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
An appraiser's chief responsibility is to their client.
Most of the time, 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.
Consequently, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you would like to obtain a copy of the appraisal document, you normally should get it from your lender instead of the appraiser.
Appraisers can often have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - at Roadrunner Appraisals, Inc. you can rest assured that we adhere to that rule.
We meet or exceed the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Accepting assignments where our fee is dependent on our value conclusion is not something we can consider. That means we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. It should be obvious that inflating a value to achieve a higher paycheck is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice also states 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" in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to get you an accurate home or property value.
As soon as you order an appraisal from Roadrunner Appraisals, Inc., we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for.