For honest and ethical appraisals, trust MGV Group

By and large, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

For an appraiser the chief obligation is to their client. Generally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like a copy of the appraisal document, you generally have to obtain it from your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the assignment, attaining and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at MGV Group, we take these ethical responsibilities very to heart.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at MGV Group you can rest assured that we stick to that rule.

We require the highest ethical standards possible from ourselves. Working on orders that contingency fees is never an option. 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 perhaps the appraisal industries most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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," in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.

With MGV Group, you won't have any doubts that you're receiving 100 percent ethical, honest service.