For honest and ethical appraisals, trust Wilson Appraisal Services

Appraising 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 considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

We have a lot of responsibilities as appraisers but our chief duty is to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to review the appraisal document, you generally have to obtain it through your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the assignment, reaching and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Wilson Appraisal Services, we take these ethical responsibilities very to heart.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - at Wilson Appraisal Services you can rest assured that we abide by that rule.

We require the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite appraisal fraud since raising the value of the home would up the fee. We don't do that. Other unethical practices may be established by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.

When you request an appraisal from Wilson Appraisal Services 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.