For honest and ethical appraisals, count on Michael Manley Appraisals LLC
Typically, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have a great deal of obligations as appraisers but first and foremost we answer to our clients. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you require to obtain a copy of the appraisal document, you should request it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Michael Manley Appraisals LLC, we take these ethical responsibilities very seriously.
Michael Manley Appraisals LLC has worked hard for its track record for producing competent and ethically superior appraisals. To learn more Contact us
Appraisers may sometimes have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else Michael Manley Appraisals LLC diligently adheres to.
We require the highest ethical standards 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 collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since increasing the value of the home would up the fee. We don't do that. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "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 objectively determine the home or property value.
When you request an appraisal from Michael Manley Appraisals LLC we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.