 Whitson Homes And Land upholds the highest professional ethicsAppraising is generally a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.
An appraiser's chief obligation is to their client.
Generally, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence.
Thereon, appraisers are typically limited to only disclosing their findings to their clients, so as
a homeowner, if you want to review the appraisal document, you normally should get it through your lender and not the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role is limited to those third 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 standards outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - something else Whitson Homes And Land makes a part of their standard routine. We require the highest professional integrity possible from ourselves. Doing orders where our fee is dependent on our value conclusion is not something we can consider. That is, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. Anyone should be able to see that fabricating a home's value to achieve essentially a higher fee is unethical! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice also describes 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", or "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 going above and beyond to provide an unbiased determination of the home or property value. As soon as you order an appraisal from Whitson Homes And Land, we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for. |
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