For honest and ethical appraisals, rely on Mid-South Appraisal Service
We consider our what we do a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have many obligations as appraisers but our chief duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. 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 a copy of an appraisal report, you normally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Mid-South Appraisal Service, we take these ethical responsibilities very seriously.
Mid-South Appraisal Service has worked hard for its reputation for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will sometimes need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
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 Mid-South Appraisal Service diligently adheres to.
We demand the highest ethical standards possible from ourselves. Working on assignments that contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies to which an 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 at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
When you engage Mid-South Appraisal Service we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.