For honest and ethical appraisals, trust Michael P. Wilson Inc.

Generally, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

We have many obligations as appraisers but our chief duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want a copy of an appraisal report, you should get it through your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, reaching and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Michael P. Wilson Inc., we take these ethical responsibilities very to heart.

Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. 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 rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - at Michael P. Wilson Inc. you can rest assured that we stick to that rule.

We meet or beat the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. 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 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," in addition to 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.

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