![]() For honest and ethical appraisals, trust MBC Appraisals, INCWe consider what we do as a profession. The rigors of becoming a licensed appraiser have become more difficult 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. As with any profession we are bound by an ethical code.
We have quite a few responsibilities as appraisers, but our chief duty is to our clients.
Generally, 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 brought in to maintain independence.
Appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you would like to review the appraisal document, you generally should obtain it from your lender.
Appraisers will regularly be obligated to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - at MBC Appraisals, INC you can rest assured that we stick to that rule. We meet or exceed the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. Accepting orders based on contingency fees is not something we can consider. That is, we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. Anyone should be able to see that inflating a value to achieve a bigger paycheck is unethical! Finally, the Uniform Standards of Professional Appraisal Practice clearly states a violation in ethics 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 rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value. With MBC Appraisals, INC, you can be assured of 100 percent ethical, honest service. |