Metro Appraisals maintains the highest professional ethicsWe consider our business as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have many responsibilities as appraisers, but our main duty is to our clients.
Typically, for a normal 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 brought in to maintain independence.
It's important to know that a lot of elements relating to an assignment are to be discussed exclusively with the appraiser's client. As
a homeowner, if you want a copy of the appraisal document, you normally should get it from your lender instead of the appraiser.
Appraisers will often be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary role is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - something else Metro Appraisals makes a part of their standard routine.
Metro Appraisals holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Doing assignments where our fee is dependent on our value conclusion is never an option. That means we are not able to 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 what amounts to a higher fee is unethical! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also describes 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 follow these rules to the letter which means you can be at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Metro Appraisals, you can be assured of 100 percent ethical, professional service.