For honest and ethical appraisals, rely on St. Charles/WestPlex Appraisal Services, LLC
We consider our our business a profession. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
As appraisers our primary obligation is to his or her client. Most of the time, for a regular residential appraisal, 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 want a copy of an appraisal report, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping a respectable 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 St. Charles/WestPlex Appraisal Services, LLC.
St. Charles/WestPlex Appraisal Services, LLC has worked hard for its reputation for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly be required to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only 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 rules outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - at St. Charles/WestPlex Appraisal Services, LLC you can rest assured that we adhere to that rule.
While working on an appraisal, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would invite fraudulent practices since increasing the estimate of the home would up the fee. We don't do that. Other unethical practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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," as well as other situations. We diligently 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 St. Charles/WestPlex Appraisal Services, LLC, you won't have any doubts that you're getting 100 percent ethical, honest service.
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