Honesty and Integrity: Mindi Kitten Appraisals
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have a lot of responsibilities as appraisers but above everything we answer to our clients. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require a copy of an appraisal report, you should obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Mindi Kitten Appraisals, we take these ethical responsibilities very seriously.
Mindi Kitten Appraisals has an established reputation for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can regularly have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - at Mindi Kitten Appraisals you can rest assured that we abide by that rule.
We demand the highest professional integrity possible from ourselves. Working on assignments that contingency fees is never an option. That is, we can't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other improper 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 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," "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 provide an unbiased determination of the home or property value.
With Mindi Kitten Appraisals, you can be assured of 100 percent ethical, professional service.
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