Honesty and Integrity: Midlands Appraisal Group, LLCAppraising is, by and large, a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
An appraiser's chief obligation is to their client.
Typically, for a standard residential appraisal, 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.
Thereon, 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 the appraisal document, you normally should request it from your lender.
Appraisers will frequently be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - at Midlands Appraisal Group, LLC you can rest assured that we abide by that rule.
We demand the highest professional integrity possible from ourselves. Doing orders where our fee is dependent on our value conclusion 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. It should be apparent to anyone that fabricating a home's value to achieve what amounts to a bigger fee is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also states 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", 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 confident we are going above and beyond to objectively determine the home or property value.
When you request an appraisal from Midlands Appraisal Group, LLC, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for.