DRB Appraisals maintains the utmost professional ethicsWe think of our job as a profession. Requirements to become an Indiana Licensed Residential Appraiser have become more difficult 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 have a strict ethical code.
The appraiser's primary obligation 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 follows that 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 want a copy of the appraisal document, you generally should request it via your lender and not the appraiser.
Appraisers may frequently have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary role is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - something else DRB Appraisals takes very seriously.
DRB Appraisals holds itself to the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. Working on orders based on contingency fees 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. There's certainly a conflict of interest if an appraiser can report an unsubstantiated value and then get paid more money!
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly 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 diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.
With DRB Appraisals, you won't have any doubts that you're receiving 100 percent ethical, professional service.