For honest and ethical appraisals, trust Marvin L Cole Appraisal LLC

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession as opposed to a trade. As with any profession we are bound by ethical considerations.

As appraisers our chief responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire a copy of an appraisal report, you normally have to request it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Marvin L Cole Appraisal LLC.

Appraisers will frequently be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is restricted 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 whom we share information. For example, appraisers must backup their work files for at least five years - something else Marvin L Cole Appraisal LLC takes very seriously.

Marvin L Cole Appraisal LLC holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Doing assignments on 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. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, 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 defined by state law or professional societies to which an 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 follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.

With Marvin L Cole Appraisal LLC, you won't have any doubts that you're receiving 100 percent ethical, professional service.