Honesty and Integrity: Landfair Appraisals Midwest Inc

Appraising is a profession, and appraisers are professionals. 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 certainly be considered a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.

For an appraiser the chief obligation is to their client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to obtain a copy of the appraisal document, you should obtain it from your lender. Other responsibilities also include, accurate figures appropriate to the scope of the assignment, reaching and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is just normal course of business for us at Landfair Appraisals Midwest Inc.

Appraisers will regularly be obligated to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - at Landfair Appraisals Midwest Inc you can rest assured that we abide by that rule.

We demand the highest ethical standards possible from ourselves. We have a responsibility not to 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. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. 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 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 diligently follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.

With Landfair Appraisals Midwest Inc, you won't have any doubts that you're getting 100 percent ethical, honest service.