Honesty and Integrity: Greater Wisconsin Appraisal Management LLC
Appraising is generally a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have quite a few responsibilities as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to review an appraisal report, you normally have to obtain it from your lender. Other obligations also include, accurate figures appropriate to the nature of the assignment, attaining and maintaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Greater Wisconsin Appraisal Management LLC, we take these ethical responsibilities very seriously.
Greater Wisconsin Appraisal Management LLC has worked hard for its track record for producing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - at Greater Wisconsin Appraisal Management LLC you can rest assured that we abide by that rule.
We demand the highest ethical standards possible from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite appraisal fraud since increasing the value of the home would raise the fee. We don't do that. Other unprofessional practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," in addition to other situations We follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.
As soon as you engage Greater Wisconsin Appraisal Management 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.