For honest and ethical appraisals, trust M Davies Appraisal LLC

Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

An appraiser's chief obligation is to his or her client. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like a copy of an appraisal report, you generally have to request it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at M Davies Appraisal LLC, we take these ethical responsibilities very to heart.

Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else M Davies Appraisal LLC makes a part of their standard routine.

We meet or beat the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite fraudulent practices since raising the value of the home would increase the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies 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 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 request an appraisal from M Davies Appraisal LLC 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.