For honest and ethical appraisals, rely on McGreal & Company
Typically, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
We have quite a few responsibilities as appraisers but first and foremost we answer to our clients. More often than not, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to review an appraisal report, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at McGreal & Company.
McGreal & Company has worked hard for its track record for providing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will regularly be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third 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 backup their work files for at least five years - something else McGreal & Company takes very seriously.
We require the highest professional integrity possible from ourselves. We have a responsibility not to 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 don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite appraisal fraud since raising the estimate of the home would raise the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations that the 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 rest easy knowing we are doing everything we can to objectively determine the home or property value.
With McGreal & Company, you can be assured of 100 percent ethical, honest service.