For honest and ethical appraisals, trust Mike Noble Appraisals

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.

We have many responsibilities as appraisers but our main duty is to our clients. More often than not, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to obtain a copy of the appraisal document, you should get it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the report, attaining and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Mike Noble Appraisals, we take these ethical responsibilities very to heart.

Appraisers will often be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else Mike Noble Appraisals diligently adheres to.

When busy with an order, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we are not able to 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 perhaps the appraisal professions biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," "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 working hard to provide an unbiased determination of the home or property value.

When you engage Mike Noble 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.