Honesty and Integrity: Weaver Appraisal Group
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we have a strict ethical code.
An appraiser's main obligation is to their client. Normally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to review an appraisal report, you generally have to obtain it through your lender. Other obligations also include, accurate figures appropriate to the parameters of the assignment, attaining and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Weaver Appraisal Group.
Weaver Appraisal Group has an established track record for producing competent and ethically superior appraisals. To learn more Contact us
Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - at Weaver Appraisal Group you can rest assured that we abide by that rule.
While working on an assignment, we follow the highest ethical standards possible. Working on orders 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 probably the appraisal professions biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," "the amount of a value opinion," in addition to other situations We diligently 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.
When you engage Weaver Appraisal Group we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.