 Wilder & Associates maintains the utmost professional ethicsBy and large, appraising is a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
An appraiser's main responsibility is to their client.
Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Consequently, appraisers are typically restricted to only disclosing their findings to their clients, so as
a homeowner, if you would like to review an appraisal report, you generally have to get it via your lender and not the appraiser.
Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary role is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - something else Wilder & Associates takes very seriously. We only perform to the highest ethical standards possible. Working on assignments based on contingency fees is never an option. In other words, we are not able to agree to do an appraisal report and get paid only if the loan closes. There's certainly a conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly describes 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can be confident we are doing everything we can to get you an accurate home or property value. When you engage Wilder & Associates, 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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