Wastweet Appraisal & Consulting Inc. upholds the utmost professional ethics

Appraising is, by and large, a long term career. The rigors of becoming 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 obligations as appraisers but first and foremost we answer to our clients. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to obtain a copy of the appraisal document, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping a particular 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 Wastweet Appraisal & Consulting Inc..

Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is only to those 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 rules that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - at Wastweet Appraisal & Consulting Inc. you can rest assured that we stick to that rule.

We only perform to the highest ethical standards possible. Doing orders on contingency fees is not something we can consider That is, we don't 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 perhaps the appraisal professions most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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.

When you engage Wastweet Appraisal & Consulting Inc. 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.