Mississippi Appraisal Service, Ltd. upholds the utmost professional ethics

We think of our job as a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

We have a great deal of obligations 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 desire to review the appraisal document, you generally have to get it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the report, attaining and keeping an adequate 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 Mississippi Appraisal Service, Ltd..

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

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - at Mississippi Appraisal Service, Ltd. you can rest assured that we stick to that rule.

We demand the highest professional integrity possible from ourselves. Working on assignments that contingency fees is not something we can consider 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 probably the appraisal industries biggest taboo, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 assured we are doing everything we can to provide an unbiased determination of the home or property value.

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