Honesty and Integrity: BenchMark Appraisals LLCWe consider our business as a profession. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have a great deal of responsibilities as appraisers, but above everything we answer to our clients. Typically, for a normal residential appraisal, 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 many matters pertaining to an assignment are to be discussed exclusively with the appraiser's client. So, as a homeowner, if you would like to obtain a copy of the appraisal document, you normally have to get it via your lender instead of the appraiser.
Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those 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 rules outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - at BenchMark Appraisals LLC you can rest assured that we abide by that rule.
We require the highest ethical standards possible from ourselves. Doing orders based on contingency fees is never an option. In other words, we don't agree to do an appraisal report and get paid only if the loan closes. Anyone should be able to see that inflating a value to achieve a bigger paycheck is unethical!
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly describes unethical behavior 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" 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 BenchMark Appraisals LLC, you can be assured of 100 percent ethical, honest service.