Honesty and Integrity: MVP Appraisal Service

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. As with any profession we are bound by ethical considerations.

An appraiser's chief obligation is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to obtain a copy of an appraisal report, you should request it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, acquiring and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at MVP Appraisal Service, we take these ethical responsibilities very seriously.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.

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 MVP Appraisal Service you can rest assured that we abide by that rule.

When creating reports, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we are not able to 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 industries biggest no-no, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other improper practices may be established by state law or professional organizations 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," as well as 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.

With MVP Appraisal Service, you won't have any doubts that you're receiving 100 percent ethical, honest service.