For honest and ethical appraisals, rely on Greater Wisconsin Appraisal Management LLC
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have quite a few responsibilities as appraisers but our main duty is to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you require to obtain a copy of the appraisal document, you generally have to request it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at Greater Wisconsin Appraisal Management LLC.
Greater Wisconsin Appraisal Management LLC has worked hard for its track record for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else Greater Wisconsin Appraisal Management LLC takes very seriously.
We meet or beat the industry standards and guidelines set in place for professional behavior. We won't accept anything less from ourselves. Doing orders on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the value of the home would inflate the fee. We set ourselves to a higher standard. Other unethical practices may be defined 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," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.
When 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.