Honesty and Integrity: Hardwick Appraisal

We consider our what we do a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we are bound by ethical considerations.

For an appraiser the main obligation is to his or her client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you require to obtain a copy of the appraisal document, you should request it through your lender. Other responsibilities also include, accurate sums appropriate to the nature of the report, acquiring and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Hardwick Appraisal.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - at Hardwick Appraisal you can rest assured that we adhere to that rule.

We require the highest ethical standards possible from ourselves. Doing orders on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite fraudulent practices since raising the estimate of the home would increase the fee. We set ourselves to a higher standard. Other unethical practices may be defined 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 rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

As soon as you engage Hardwick Appraisal 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.