Magher Appraisals, 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 in the past. 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 must follow strict ethical considerations.

For an appraiser the chief obligation 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 confidentiality for their clients a homeowner, if you would like to review an appraisal report, you normally have to request it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, 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 is what we do everyday at Magher Appraisals, Inc..

Appraisers may frequently have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - something else Magher Appraisals, Inc. takes very seriously.

We demand the highest ethical standards possible from ourselves. Working on assignments that contingency fees is not something we can consider 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 probably the appraisal industries most important rule, because it would invite fraudulent practices since increasing the value of the home would inflate the fee. We set ourselves to a higher standard. Other unethical 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 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 diligently follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.

When you request an appraisal from Magher Appraisals, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.