For honest and ethical appraisals, count on Maxwell Appraisal Services
We think of our job as a profession. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal is a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have quite a few responsibilities as appraisers, but first and foremost we answer to our clients. Typically, for a standard residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client. Certain elements about an assignment shared with the appraiser's client. So, as a homeowner, if you would like a copy of an appraisal report, you generally should get it from your lender.
In some cases, appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers, and buyers, or others. Those third parties normally are defined in the scope of the appraisal assignment itself. 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 duties that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Maxwell Appraisal Services makes a part of their standard routine.
We only perform to the highest ethical standards possible. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. In other words, we can't agree to do an appraisal report and collect the fee only if the loan closes. It should be obvious that fabricating a property's value to achieve a bigger paycheck is unethical! We don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice explicitly describes 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", or "the amount of a value opinion" in addition to other situations. We follow these rules to the letter, which means you can be assured we are going above and beyond to determine the home or property value objectively.
As soon as you order an appraisal from Maxwell Appraisal Services, we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for.