For honest and ethical appraisals, count on MVP APPRAISALS, INC
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be called a profession as opposed to a trade. As with any profession we have a strict ethical code.
For an appraiser the main obligation is to his or her client. Normally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to obtain a copy of an appraisal report, you generally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at MVP APPRAISALS, INC, we take these ethical responsibilities very to heart.
MVP APPRAISALS, INC has an established track record for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will frequently need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - something else MVP APPRAISALS, INC diligently adheres to.
We demand the highest professional integrity possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite appraisal fraud since increasing the value of the home would raise the their paycheck. 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 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," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.
When you engage MVP APPRAISALS, 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.