For honest and ethical appraisals, count on Stark-Wayne Appraisal Services

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.

For an appraiser the chief obligation is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to obtain a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the report, reaching and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Stark-Wayne Appraisal Services.

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

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 a minimum of five years - something else Stark-Wayne Appraisal Services makes a part of their standard routine.

We demand the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to 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 professions most important rule, because it would invite appraisal fraud since raising the value of the home would increase the their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 diligently follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.

When you engage Stark-Wayne Appraisal Services we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.