Honesty and Integrity: TNT Appraisal MN
Appraising is a profession and appraisers are professionals. Requirements to become a certified appraiser have become more difficult than ever and that's why real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
An appraiser's main obligation is to their client. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire a copy of the appraisal document, you need to contact your lender. Other obligations include numerical accuracy depending on the assignment parameters, acquiring and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at TNT Appraisal MN.
TNT Appraisal MN has an established reputation for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will frequently need to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties the appraiser acknowledges in the appraisal report, based on the scope of work or other written parameters of the order.
When creating reports, we follow the highest ethical standards possible. We will not accept contingency fees, that is we cannot agree to complete an appraisal and only get paid if the value is acceptable to the client or the loan closes. We also will not accept assignments on percentage fees as this could result in higher values to support higher appraisal fees and welcomes fraud. Other improper practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior as accepting 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 confident we are going above and beyond to objectively determine the value of the property.
With TNT Appraisal MN, you can be assured of 100 percent ethical, honest service.