Midwest Professional Appraisal, LLC upholds the utmost professional ethics

Typically, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we have a strict ethical code.

For an appraiser the primary obligation is to their client. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you require to obtain a copy of an appraisal report, you normally have to get it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the report, attaining and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Midwest Professional Appraisal, LLC, we take these ethical responsibilities very seriously.

In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. 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 job.

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 Midwest Professional Appraisal, LLC makes a part of their standard routine.

Midwest Professional Appraisal, LLC holds itself to the industry standards and guidelines set in place for professional behavior. We won't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite fraudulent practices since raising the estimate of the home would raise the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 doing everything we can to objectively determine the home or property value.

With Midwest Professional Appraisal, LLC, you won't have any doubts that you're getting 100 percent ethical, professional service.