MS-TN Valuation Services LLC upholds the utmost professional ethics

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we are bound by ethical considerations.

For an appraiser the main obligation is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to review an appraisal report, you should get it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at MS-TN Valuation Services LLC , we take these ethical responsibilities very seriously.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at MS-TN Valuation Services LLC you can rest assured that we abide by that rule.

We demand the highest ethical standards possible from ourselves. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other improper practices may be established 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 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," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.

As soon as you order an appraisal from MS-TN Valuation Services LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.