For honest and ethical appraisals, count on Homewise Appraisal Services LLC

Appraising is typically a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.

We have many responsibilities as appraisers but our primary duty is to our clients. Most of the time, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to review the appraisal document, you should get it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the assignment, reaching and maintaining 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 just normal course of business for us at Homewise Appraisal Services LLC.

Appraisers may sometimes have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.

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 - something else Homewise Appraisal Services LLC takes very seriously.

When working on an assignment, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, 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 improper practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," as well as other situations. We follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.

When you engage Homewise Appraisal Services LLC 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.