For honest and ethical appraisals, count on Murray Appraisal Services

Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

As appraisers our chief obligation is to their client. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you desire a copy of the appraisal document, you should get it through your lender. Other obligations also include, accurate figures appropriate to the nature of the assignment, acquiring and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Murray Appraisal Services, we take these ethical responsibilities very seriously.

Appraisers will regularly need to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is limited 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 standards outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at Murray Appraisal Services you can rest assured that we abide by that rule.

When busy with an appraisal, we follow the highest ethical standards possible. We never do assignments on contingency fees. That is, we don'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 professions biggest taboo, because it would invite appraisal fraud since raising the value of the home would raise the fee. We set ourselves to a higher standard. Other improper 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," as well as other situations. We diligently follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.

As soon as you order an appraisal from Murray Appraisal Services 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.