For honest and ethical appraisals, rely on Watson Appraisal Services, Inc
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So 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 primary responsibility is to their client. Normally, 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 to review the appraisal document, you should get it through your lender. Other obligations also include, accurate sums appropriate to the nature of the assignment, attaining and keeping a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Watson Appraisal Services, Inc.
Watson Appraisal Services, Inc has worked hard for its track record for performing appraisals with the highest of ethics. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted 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.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - at Watson Appraisal Services, Inc you can rest assured that we adhere to that rule.
We meet or beat the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. Doing orders 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 perhaps the appraisal industries biggest no-no, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.
With Watson Appraisal Services, Inc, you won't have any doubts that you're getting 100 percent ethical, honest service.