For honest and ethical appraisals, trust Bret Mundy Real Estate LLC

Appraising is generally a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we are bound by ethical considerations.

The appraiser's main obligation is to his or her client. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you require to review the appraisal document, you generally have to request it from your lender. Other responsibilities also include, accurate figures appropriate to the scope of the report, acquiring and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at Bret Mundy Real Estate LLC.

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

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - at Bret Mundy Real Estate LLC you can rest assured that we abide by that rule.

We meet or beat the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined 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," 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 objectively determine the home or property value.

When you order an appraisal from Bret Mundy Real Estate 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.