M Davies Appraisal LLC upholds the highest professional ethics
Appraising is typically 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 definitely be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
As appraisers our chief obligation is to his or her client. Most of the time, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want a copy of the appraisal document, you generally have to get it through your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the assignment, reaching and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at M Davies Appraisal LLC.
M Davies Appraisal LLC has an established track record for performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers may also have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - at M Davies Appraisal LLC you can rest assured that we abide by that rule.
M Davies Appraisal LLC holds itself to the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. We never do assignments on contingency fees. 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 perhaps the appraisal industries most important rule, because it would invite fraudulent practices since raising the estimate of the home would inflate the 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 follow these rules to the letter which means you can be assured we are doing everything we can to provide an unbiased determination of the home or property value.
As soon as you engage M Davies Appraisal LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.
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