For honest and ethical appraisals, rely on Medina Appraisal Company

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

We have many obligations as appraisers but above everything we answer to our clients. Normally, in residential practice, 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 desire to review an appraisal report, you normally have to request it through your lender. Other responsibilities also include, accurate sums appropriate to the scope of the assignment, acquiring and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Medina Appraisal Company, we take these ethical responsibilities very to heart.

Medina Appraisal Company provides honest and ethical appraisals for Medina County

Medina Appraisal Company has worked hard for its reputation for providing competent and ethically superior appraisals. To learn more Contact us

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - at Medina Appraisal Company you can rest assured that we adhere to that rule.

We require the highest professional integrity possible from ourselves. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We don't do that. 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 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 confident we are working hard to objectively determine the home or property value.

When you engage Medina Appraisal Company we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.