For honest and ethical appraisals, trust Wahl Appraisal Service
We think of our business as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. That's why 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 must follow strict ethical considerations.
We have a great deal of obligations as appraisers but first and foremost we answer to our clients. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire a copy of the appraisal document, you normally have to request it from your lender. Other obligations also include, accurate sums appropriate to the parameters of the assignment, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Wahl Appraisal Service, we take these ethical responsibilities very to heart.
Wahl Appraisal Service has an established reputation for producing competent and ethically superior appraisals. Contact us today to learn more.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
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 a minimum of five years - at Wahl Appraisal Service you can rest assured that we adhere to that rule.
When creating reports, we follow the highest ethical standards possible. Working on assignments that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "the amount of a value opinion," in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.
With Wahl Appraisal Service, you won't have any doubts that you're getting 100 percent ethical, professional service.