For honest and ethical appraisals, trust Moschetti & MoschettiAppraising is generally a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code. We have quite a few obligations as appraisers but our primary duty is to our clients. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require a copy of an appraisal report, you normally have to get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Moschetti & Moschetti, we take these ethical responsibilities very seriously. ![]() Moschetti & Moschetti has worked hard for its reputation for providing appraisals with the highest of ethics. To learn more Contact us In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order. There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - at Moschetti & Moschetti you can rest assured that we stick to that rule. We meet or beat the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite appraisal fraud since raising the estimate of the home would raise the their paycheck. We don't do that. Other unethical practices may be defined by state law or professional societies that the appraiser belongs. The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "the amount of a value opinion," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value. With Moschetti & Moschetti, you can be assured of 100 percent ethical, honest service. |