For honest and ethical appraisals, count on Singleton & Associates, LLCWe think of our business as a profession. Requirements to become 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 unquestionably be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have a great deal of responsibilities as appraisers, but above everything we answer to our clients.
More often than not, for a typical 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 retained to maintain independence.
Certain elements relating to an assignment are to be shared with the appraiser's client. As
a homeowner, if you would like to review the appraisal document, you generally have to get it from your lender.
Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at Singleton & Associates, LLC you can rest assured that we adhere to that rule.
Singleton & Associates, LLC holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Working on assignments where our fee is dependent on our value conclusion is not something we can consider. That is, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. Anyone should be able to see that inflating a value to achieve essentially a higher fee is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice explicitly defines 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 assured we are working hard to get you an accurate home or property value.
With Singleton & Associates, LLC, you won't have any doubts that you're receiving 100 percent ethical, professional service.