For honest and ethical appraisals, trust Mindi Kitten Appraisals

We consider our our business a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

For an appraiser the main obligation is to their client. Typically, for a standard residential appraisal, 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 want a copy of an appraisal report, you normally have to obtain it from your lender. Other obligations also include, accurate sums appropriate to the parameters of the report, attaining and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Mindi Kitten Appraisals, we take these ethical responsibilities very to heart.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, 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 be able to produce their work files for a minimum of five years - at Mindi Kitten Appraisals you can rest assured that we stick to that rule.

We require the highest professional integrity possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would invite appraisal fraud since raising the value of the home would increase the fee. We don't do that. Other unethical 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 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 at ease knowing we are doing everything we can to objectively determine the home or property value.

As soon as you engage Mindi Kitten Appraisals 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.