Honesty and Integrity: Watson Appraisal Services, Inc
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why 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 are bound by ethical considerations.
We have many responsibilities as appraisers but first and foremost we answer to our clients. Typically, for a regular 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 require to obtain a copy of the appraisal document, you should obtain it from your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the assignment, attaining and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at Watson Appraisal Services, Inc.
Watson Appraisal Services, Inc has worked hard for its track record for providing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of third parties, including homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical rules 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 Watson Appraisal Services, Inc you can rest assured that we abide by that rule.
Watson Appraisal Services, Inc holds itself to the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would invite fraudulent practices since increasing the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations 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 provide an unbiased determination of the home or property value.
As soon as you order an appraisal from Watson Appraisal Services, Inc we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.