For honest and ethical appraisals, count on Metro One Appraisals Inc

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

We have a lot of obligations as appraisers but our main duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to review the appraisal document, you normally have to obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Metro One Appraisals Inc.

Appraisers may regularly have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, 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 Metro One Appraisals Inc you can rest assured that we abide by that rule.

We require the highest ethical standards possible from ourselves. We don't 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. 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 estimate of the home would increase the fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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 diligently follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.

When you order an appraisal from Metro One Appraisals Inc 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.