For honest and ethical appraisals, rely on Appraisals Northwest
By and large, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
As appraisers our primary obligation is to his or her client. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want a copy of an appraisal report, you should request it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the assignment, reaching and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Appraisals Northwest, we take these ethical responsibilities very seriously.
Appraisals Northwest has worked hard for its reputation for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly be obligated to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - at Appraisals Northwest you can rest assured that we adhere to that rule.
When busy with an assignment, we follow the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the value of the home would up the their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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," "the amount of a value opinion," in addition to other situations We follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.
As soon as you engage Appraisals Northwest we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.