For honest and ethical appraisals, rely on Michigan Executive Appraisals

Generally, appraising a long term career. Requirements to become 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 as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

We have a lot of obligations as appraisers but our main duty is to our clients. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to review the appraisal document, you generally have to obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Michigan Executive Appraisals.

Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Michigan Executive Appraisals diligently adheres to.

When creating reports, we follow the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite fraudulent practices since increasing the estimate of the home would inflate the their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.

When you engage Michigan Executive Appraisals 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.