N.W. Appraisal Network maintains the utmost professional ethicsBy and large, appraising is a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
The appraiser's primary responsibility is to their client.
Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence.
Thereon, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you would like to obtain a copy of an appraisal report, you generally have to get it via your lender and not the appraiser.
Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is limited 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 standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else N.W. Appraisal Network diligently adheres to.
We only perform to the highest ethical standards possible. Accepting assignments where our fee is dependent on our value conclusion is never an option. In other words, we are not able to agree to do an appraisal report and get paid only if the loan closes. There's an obvious conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly describes 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", or "the amount of a value opinion" in addition to other situations We 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.
With N.W. Appraisal Network, you won't have any doubts that you're receiving 100 percent ethical, professional service.
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