For honest and ethical appraisals, trust Peter Rudek dba Bellwether Appraisal Company

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

As appraisers our chief responsibility is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to review an appraisal report, you generally have to request it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, acquiring and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Peter Rudek dba Bellwether Appraisal Company, we take these ethical responsibilities very to heart.

In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - at Peter Rudek dba Bellwether Appraisal Company you can rest assured that we stick to that rule.

We only perform to the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we don't 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 most important rule, because it would invite fraudulent practices since increasing the estimate of the home would up the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations 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 confident we are doing everything we can to provide an unbiased determination of the home or property value.

As soon as you engage Peter Rudek dba Bellwether Appraisal Company 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.