Honesty and Integrity: STEVEN GIANNINI & ASSOCIATES

Generally, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we are bound by ethical considerations.

The appraiser's primary obligation is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to review the appraisal document, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at STEVEN GIANNINI & ASSOCIATES, we take these ethical responsibilities very seriously.

STEVEN GIANNINI & ASSOCIATES provides honest and ethical appraisals for Dupage County

STEVEN GIANNINI & ASSOCIATES has worked hard for its reputation for producing competent and ethically superior appraisals. Contact us today to learn more.

Appraisers can sometimes have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

There are also ethical standards 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 - something else STEVEN GIANNINI & ASSOCIATES takes very seriously.

While working on an order, we follow the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite appraisal fraud since increasing the estimate of the home would up the fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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 be at ease knowing we are working hard to provide an unbiased determination of the home or property value.

With STEVEN GIANNINI & ASSOCIATES, you can be assured of 100 percent ethical, professional service.