For honest and ethical appraisals, rely on Lightspeed Appraisal GroupAppraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
An appraiser's primary responsibility is to their client.
Most of the time, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It's important to know that a lot of matters pertaining to an assignment are to be shared exclusively with the appraiser's client. As
a homeowner, if you would like to obtain a copy of an appraisal report, you generally should obtain it through your lender.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role is limited to those third 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 with whom we share information For example, appraisers must backup their work files for at least five years - at Lightspeed Appraisal Group you can rest assured that we adhere to that rule.
We demand the highest ethical standards possible from ourselves. Accepting orders where our fee is dependent on our value conclusion is never an option. In other words, we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's a definite conflict of interest if an appraiser can report a larger value and then get paid more money! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly defines a violation in ethics 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 diligently follow these rules to the letter which means you can be assured we are doing everything we can to get you an accurate home or property value.
With Lightspeed Appraisal Group, you won't have any doubts that you're getting 100 percent ethical, honest service.