For honest and ethical appraisals, trust Mike's Appraisals
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.
The appraiser's main responsibility is to his or her client. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you require a copy of the appraisal document, you should get it from your lender. Other obligations also include, accurate sums appropriate to the scope of the report, attaining and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Mike's Appraisals, we take these ethical responsibilities very to heart.
Mike's Appraisals has an established reputation for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers may often have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Mike's Appraisals takes very seriously.
We only perform to the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we are not able to 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 probably the appraisal professions biggest taboo, because it would invite fraudulent practices since increasing the value of the home would inflate the fee. 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 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 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.
With Mike's Appraisals, you won't have any doubts that you're getting 100 percent ethical, professional service.