Meador Group, Inc upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
As appraisers our chief responsibility is to their client. Normally, in residential practice, 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 obtain a copy of an appraisal report, you generally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is just normal course of business for us at Meador Group, Inc.
Meador Group, Inc has worked hard for its track record for providing appraisals with the highest of ethics. To learn more Contact us
Appraisers may also have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser is aware of, 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 keep their work files for at least five years - something else Meador Group, Inc takes very seriously.
We meet or beat the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. We never do assignments on contingency fees. That is, we can't 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 most important rule, because it would invite fraudulent practices since increasing the estimate of the home would increase the fee. We don't do that. Other improper practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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," in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
As soon as you engage Meador Group, Inc 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.