For honest and ethical appraisals, rely on Mays Appraisal Services

Typically, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we are bound by ethical considerations.

For an appraiser the main responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you want to obtain a copy of the appraisal document, you should get it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Mays Appraisal Services , we take these ethical responsibilities very to heart.

Appraisers may sometimes have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. 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 assignment.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else Mays Appraisal Services diligently adheres to.

Mays Appraisal Services holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we can'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 perhaps the appraisal industries biggest taboo, because it would tend to make appraisers inflate 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 societies 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 assured we are working hard to objectively determine the home or property value.

As soon as you engage Mays Appraisal Services we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.