Lakewood Evaluations maintains the highest professional ethics

Typically, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

We have quite a few obligations as appraisers but our chief duty is to our clients. Normally, 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 require a copy of an appraisal report, you generally have to get it through your lender. Other obligations also include, accurate sums appropriate to the scope of the report, acquiring and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Lakewood Evaluations, we take these ethical responsibilities very to heart.

Appraisers can also have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.

There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else Lakewood Evaluations makes a part of their standard routine.

We require the highest professional integrity possible from ourselves. Working on assignments that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite appraisal fraud since increasing the value of the home would increase the their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 going above and beyond to objectively determine the home or property value.

With Lakewood Evaluations, you can be assured of 100 percent ethical, professional service.