For honest and ethical appraisals, count on Maider Appraisals
We think of our job as a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have many responsibilities as appraisers but our main duty is to our clients. Most of the time, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to obtain a copy of the appraisal document, you generally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, acquiring and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Maider Appraisals, we take these ethical responsibilities very to heart.
Maider Appraisals has worked hard for its reputation for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers may regularly have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Maider Appraisals diligently adheres to.
Maider Appraisals holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal industries 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 improper practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "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 working hard to provide an unbiased determination of the home or property value.
When you request an appraisal from Maider 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.