Honesty and Integrity: CMRE Appraisals Inc.

Appraising is generally a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we are bound by an ethical code.

An appraiser's main responsibility is to their client. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to review the appraisal document, you should get it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, attaining and maintaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at CMRE Appraisals Inc., we take these ethical responsibilities very to heart.

Appraisers will frequently be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else CMRE Appraisals Inc. takes very seriously.

We only perform to the highest ethical standards possible. We never 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 perhaps the appraisal professions biggest taboo, because it would invite fraudulent practices since increasing the estimate of the home would up the their paycheck. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 diligently follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.

With CMRE Appraisals Inc., you won't have any doubts that you're receiving 100 percent ethical, professional service.