Kathleen Westoby Berengue maintains the utmost professional ethics
Appraising is typically a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
As appraisers our chief responsibility 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 keeping many matters private for their clients a homeowner, if you require to obtain a copy of the appraisal document, you generally have to request it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and keeping 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 standard operating procedure for us at Kathleen Westoby Berengue.
Kathleen Westoby Berengue has an established reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - at Kathleen Westoby Berengue you can rest assured that we adhere to that rule.
While busy with an appraisal, we follow the highest ethical standards possible. We never do assignments on contingency fees. 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 perhaps the appraisal industries biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We don't do that. 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 unethical behavior 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 objectively determine the home or property value.
With Kathleen Westoby Berengue, you can be assured of 100 percent ethical, honest service.