Honesty and Integrity: Mitchell Real Estate Appraisals
Generally, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we are bound by an ethical code.
An appraiser's primary obligation is to their client. Typically, for a normal residential appraisal, 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 want to review the appraisal document, you should request it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the assignment, acquiring and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Mitchell Real Estate Appraisals, we take these ethical responsibilities very seriously.
Mitchell Real Estate Appraisals has worked hard for its track record for providing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are clearly 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 written parameters of the job.
There are also ethical standards 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 - something else Mitchell Real Estate Appraisals makes a part of their standard routine.
We only perform to the highest ethical standards possible. Working on assignments that contingency fees is never an option. 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 inflate the value of homes or properties to increase their paycheck. We don't do that. Other unprofessional 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 confident we are working hard to objectively determine the home or property value.
When you request an appraisal from Mitchell Real Estate Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.