Real estate appraiser ethics - Worth Appraising, Inc.

APPRAISER ETHICS
Appraisal is a profession, and appraisers are professionals. In our field as with any profession we are bound by ethical considerations.

An appraiser's primary responsibility is to his or her client. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal to decide whether to make the mortgage loan. Appraisers have certain duties of confidentiality to their clients -- as a homeowner, if you want a copy of an appraisal report, you normally have to request it through your lender -- obligations of numerical accuracy depending on the assignment parameters, an obligation to attain and maintain a certain level of competency and education, and must generally conduct him or herself as a professional. Here, we take
these ethical responsibilities very seriously.

Appraisers may also have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

There are ethical rules that have nothing to do with clients and others. Appraisers must keep their work files for a minimum of five years.

We only perform to the highest ethical standards possible. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal profession’s biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be defined by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines as unethical 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," "the amount of a value opinion," and other things. This means you can be assured we are working to objectively determine the home or property value.

You can be assured of 100 percent ethical, professional service.

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A Florida FHA Approved Residential & Replacement Cost Valuation
Real Estate Appraisal Firm operating EXCLUSIVELY
in Brevard County, FL (We Know the Market in Brevard).
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PRIVACY NOTICE
PURSUANT TO THE GRAMM-LEACH-BLILEY ACT OF 1999, EFFECTIVE JULY 1,2001, APPRAISERS, ALONG WITH ALL PROVIDERS OF PERSONAL FINANCIAL SERVICES, ARE NOW REQUIRED BY FEDERAL LAW TO INFORM THEIR CLIENTS OF THE POLICIES OF THE FIRM WITH REGARD TO THE PRIVACY OF CLIENT NONPUBLIC PERSONAL INFORMATION. AS PROFESSIONALS, WE UNDERSTAND THAT YOUR PRIVACY IS VERY IMPORTANT TO YOU AND ARE PLEASED TO PROVIDE THIS INFORMATION.

TYPES OF NONPUBLIC PERSONAL INFORMATION WE COLLECT:
IN THE COURSE OF PERFORMING APPRAISALS, WE MAY COLLECT WHAT IS KNOWN AS "NONPUBLIC PERSONAL INFORMATION" ABOUT YOU. THIS INFORMATION IS USED TO FACILITATE THE SERVICES THAT WE PROVIDE TO YOU AND MAY INCLUDE THE INFORMATION PROVIDED TO US BY YOU DIRECTLY OR RECEIVED BY US FROM OTHERS WITH YOUR AUTHORIZATION. WE DO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION OBTAINED IN THE COURSE OF OUR ENGAGEMENT WITH OUR CLIENTS TO NONAFFILIATED THIRD PARTIES, EXCEPT AS NECESSARY OR AS REQUIRED BY LAW.

CONFIDENTIALITY AND SECURITY:
WE WILL RETAIN RECORDS RELATING TO PROFESSIONAL SERVICES THAT WE HAVE PROVIDED TO YOU FOR A REASONABLE TIME SO THAT WE ARE BETTER ABLE TO ASSIST YOU WITH YOUR NEEDS. IN ORDER TO PROTECT YOUR NONPUBLIC PERSONAL INFORMATION FROM UNAUTHORIZED ACCESS BY THIRD PARTIES, WE MAINTAIN PHYSICAL, ELECTRONIC AND PROCEDURAL SAFEGUARDS THAT COMPLY WITH OUR PROFESSIONAL STANDARDS TO INSURE THE SECURITY AND INTEGRITY OF YOUR INFORMATION. PLEASE FEEL FREE TO CALL US AN ANY TIME IF YOU HAVE ANY QUESTIONS ABOUT THE CONFIDENTIALITY OF THE INFORMATION THAT YOU PROVIDE TO US.

LORRAINE L. HERRICK -
FL CERT RES REA # RD 6575
FL INDEPENDENT ACCREDITED CLAIMS ADJUSTER:
ACA # P059410

IRENE LATURNO
REG TRAINEE REA # RI 22252

R. L. HUTCHCRAFT -
FL CERT RES REA # RD 5149
FL INDEPEDENT ACCREDITED CLAIMS ADJUSTER:
ACA # P 07 1979