Wasatch Back Appraisal maintains the highest professional ethics

Generally, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

For an appraiser the primary obligation is to their client. More often than not, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to review an appraisal report, you should get it from your lender. Other responsibilities also include, accurate sums appropriate to the nature of the assignment, attaining and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Wasatch Back Appraisal.

Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third 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 with whom we share information For example, appraisers must keep their work files for at least five years - something else Wasatch Back Appraisal takes very seriously.

We require the highest professional integrity possible from ourselves. Doing orders on contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite fraudulent practices since raising the estimate of the home would up the fee. We don't do that. Other unethical 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 rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.

As soon as you request an appraisal from Wasatch Back Appraisal we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.