MacDermott Valuation & Consulting, LLC upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we have a strict ethical code.
For an appraiser the main responsibility is to their client. More often than not, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to obtain a copy of an appraisal report, you generally have to obtain it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the assignment, attaining and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at MacDermott Valuation & Consulting, LLC.
MacDermott Valuation & Consulting, LLC has an established reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers may sometimes have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only 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 duties outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - something else MacDermott Valuation & Consulting, LLC makes a part of their standard routine.
We require the highest professional integrity possible from ourselves. We never do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal industries biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 assured we are going above and beyond to provide an unbiased determination of the home or property value.
When you request an appraisal from MacDermott Valuation & Consulting, LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.