Winn Appraisal Services maintains the utmost professional ethicsAppraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we have a strict ethical code.
We have many obligations as appraisers, but above everything we answer to our clients.
Generally, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence.
Thereon, appraisers have certain duties of confidentiality to their clients, plus many rules and regulations that must be followed. As
a homeowner, if you would like to review an appraisal report, you normally should request it through your lender and not the appraiser.
Appraisers may also have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else Winn Appraisal Services makes a part of their standard routine.
We only perform to the highest ethical standards possible. Accepting assignments where our fee is dependent on our value conclusion is not something we can consider. That means we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's an obvious conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice explicitly 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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can be confident we are doing everything we can to get you an accurate home or property value.
As soon as you request an appraisal from Winn Appraisal Services, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for.