Honesty and Integrity: Middle Tennessee Appraisers (615) 731-3515

By and large, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

The appraiser's chief obligation is to their client. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require to obtain a copy of the appraisal document, you normally have to get it through your lender. Other obligations also include, accurate sums appropriate to the scope of the assignment, reaching and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Middle Tennessee Appraisers (615) 731-3515, we take these ethical responsibilities very to heart.

Appraisers may regularly have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

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 Middle Tennessee Appraisers (615) 731-3515 takes very seriously.

We meet or beat the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would tend to make appraisers up the value of homes or properties to increase their fee. We don't do that. 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 defines 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 confident we are working hard to objectively determine the home or property value.

When you engage Middle Tennessee Appraisers (615) 731-3515 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.