For honest and ethical appraisals, rely on Mitchell Real Estate Appraisals
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
We have a lot of responsibilities as appraisers but our main duty is to our clients. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to get it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the report, acquiring and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is is what we do everyday at Mitchell Real Estate Appraisals.
Mitchell Real Estate Appraisals has worked hard for its track record for completing competent and ethically superior appraisals. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Mitchell Real Estate Appraisals you can rest assured that we abide by that rule.
We require the highest ethical standards possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite appraisal fraud since raising the estimate of the home would raise the fee. We don't do that. Other improper practices may be established by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior as accepting 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 confident we are going above and beyond to objectively determine the home or property value.
When you order an appraisal from Mitchell Real Estate Appraisals 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.