Waldron Appraisal LLC upholds the highest professional ethics

We think of our business as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

We have a great deal of obligations as appraisers but first and foremost we answer to our clients. Typically, for a normal residential appraisal, 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 require to review an appraisal report, you should request it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Waldron Appraisal LLC, we take these ethical responsibilities very seriously.

Appraisers will sometimes be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Waldron Appraisal LLC makes a part of their standard routine.

When 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 the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the value of the home would increase the their paycheck. We don't do that. Other improper practices may be defined 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," in addition to other situations We follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.

When you request an appraisal from Waldron Appraisal 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.