profile picture

Honesty and Integrity: MANDERFIELD APPRAISAL GROUP

Appraising is a profession, and appraisers are professionals. 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 certainly be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

We have a lot of responsibilities as appraisers but above everything we answer to our clients. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require to obtain a copy of the appraisal document, you normally have to obtain it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, reaching and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at MANDERFIELD APPRAISAL GROUP, we take these ethical responsibilities very seriously.

MANDERFIELD APPRAISAL GROUP provides honest and ethical appraisals for Alexandria City County

MANDERFIELD APPRAISAL GROUP has an established track record for providing appraisals with the highest of ethics. To learn more Contact us

Appraisers will regularly be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - something else MANDERFIELD APPRAISAL GROUP diligently adheres to.

We demand the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite fraudulent practices since increasing the value of the home would raise the fee. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 provide an unbiased determination of the home or property value.

As soon as you request an appraisal from MANDERFIELD APPRAISAL GROUP 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.