For honest and ethical appraisals, trust Mike Noble Appraisals

We think of our job as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we have a strict ethical code.

We have a lot of obligations as appraisers but our chief duty is to our clients. Most of the time, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you desire a copy of an appraisal report, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Mike Noble Appraisals.

Appraisers may frequently have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

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 - something else Mike Noble Appraisals diligently adheres to.

When creating reports, we follow the highest ethical standards possible. Working on assignments that contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries biggest taboo, because it would invite appraisal fraud since raising the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," as well as 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 Mike Noble Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.