Wulf Appraisal Corp. maintains the highest professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become 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 certainly be called a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
We have quite a few responsibilities as appraisers but our chief duty is to our clients. Typically, for a regular residential appraisal, the appraiser's client is the LENDER ordering the appraisal. Appraisers are privy to a lot of information, some of it confidential, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to obtain a copy of the appraisal document, you normally have to get it from your lender. Unfortunately, this means we may not be able to share information with the homeowner or in case of appraisals for divorces, with the current spouse of our client. We are obligated to receive written permission from our client in order to make others privy to the report, it's contents, and other details not publicly available. Many people are unaware of this and it can be a further frustration. Trust us, we understand, and will do what we can to ensure a smooth process. 
Wulf Appraisal Corp. has worked hard for its track record for completing appraisals with the highest of ethics. To learn more Contact us In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is only to those 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 with whom we share information For example, appraisers must backup their work files for a minimum of five years - something else Wulf Appraisal Corp. diligently adheres to.
We demand the highest professional integrity possible from ourselves. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations that the appraiser belongs. The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics 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 diligently follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.
When you request an appraisal from Wulf Appraisal Corp. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.
|