Honesty and Integrity: Home Appraisal Services

We think of what we do as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we have a strict ethical code.

As appraisers our chief obligation is to his or her client. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you want to review an appraisal report, you generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Home Appraisal Services, we take these ethical responsibilities very seriously.

Home Appraisal Services provides honest and ethical appraisals for Saint Croix County

Home Appraisal Services has worked hard for its reputation for producing appraisals with the highest of ethics. To learn more Contact us

Appraisers may frequently have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only 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 clients and others. For example, appraisers must keep their work files for at least five years - at Home Appraisal Services you can rest assured that we adhere to that rule.

When creating reports, we follow the highest ethical standards possible. Doing orders on contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite appraisal fraud since raising the estimate of the home would increase the their paycheck. We don't do that. Other improper practices may be defined by state law or professional societies to which an 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," 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 provide an unbiased determination of the home or property value.

When you request an appraisal from Home Appraisal Services we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.