Midwest Appraisal Company, Inc. maintains the highest professional ethics

Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

We have a great deal of responsibilities as appraisers but above everything we answer to our clients. Normally, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like a copy of an appraisal report, you normally have to get it through your lender. Other obligations also include, accurate sums appropriate to the nature of the report, attaining and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Midwest Appraisal Company, Inc., we take these ethical responsibilities very seriously.

Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is limited 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 rules outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - at Midwest Appraisal Company, Inc. you can rest assured that we adhere to that rule.

Midwest Appraisal Company, Inc. holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. We don't 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 can't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be established 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 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.

With Midwest Appraisal Company, Inc., you won't have any doubts that you're getting 100 percent ethical, honest service.