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 For honest and ethical appraisals, count on M Davies Appraisal LLC
By and large, appraising is a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
An appraiser's chief responsibility is to their client.
Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
Consequently, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you would like to review an appraisal report, you generally should obtain it from your lender and not the appraiser.
Other responsibilities include accurate figures appropriate to the parameters of the report, reaching and sustaining an adequate level of competency and education, and naturally, the appraiser must bear a professional demeanor. Here at M Davies Appraisal LLC, we take these ethical responsibilities very to heart.
Appraisers may also have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, 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 is aware of, based on the scope of work or other written parameters of the assignment.
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M Davies Appraisal LLC has an established track record for providing competent and ethically superior appraisals. Contact us today to learn more. |
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Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - something else M Davies Appraisal LLC diligently adheres to.
We meet or exceed the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves.
Accepting assignments where our fee is dependent on our value conclusion is never an option.
In other words, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing.
It should be obvious that inflating a value to achieve a bigger fee is unethical!
We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice 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", or "the amount of a value opinion" in addition to 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 get you an accurate home or property value.
As soon as you engage M Davies Appraisal LLC, we'll make sure you're getting the professional service you deserve along with the principles we're known for.
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