 For honest and ethical appraisals, trust Matthew Wood Appraisal Service, LLCGenerally, appraising is a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have a great deal of responsibilities as appraisers, but our chief duty is to our clients.
Generally, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
It follows that appraisers have certain duties of confidentiality to their clients, plus many rules and regulations controlling with whom we share information. So, as
a homeowner, if you want to obtain a copy of the appraisal document, you normally should get it from your lender.
Appraisers can also have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - at Matthew Wood Appraisal Service, LLC you can rest assured that we adhere to that rule. While working on an assignment, we follow 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 collect payment on the contingency of the loan closing. There's an obvious conflict of interest if an appraiser can report a greater value and then get paid more money! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice clearly defines 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are working hard to get you an accurate home or property value. With Matthew Wood Appraisal Service, LLC, you won't have any doubts that you're receiving 100 percent ethical, honest service. |
|||||||||
