Honesty and Integrity: CWorth Appraisal LLC

We think of our business as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have a lot of obligations as appraisers but our chief duty is to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, attaining and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at CWorth Appraisal LLC, we take these ethical responsibilities very to heart.

Appraisers may sometimes have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else CWorth Appraisal LLC diligently adheres to.

We require the highest ethical standards possible from ourselves. Doing assignments 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 can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite fraudulent practices since increasing the value of the home would raise the fee. We don't do that. Other improper practices may be established by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics 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," as well as other situations. We diligently follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value.

When you engage CWorth Appraisal LLC 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.