Honesty and Integrity: McCormick Appraisal Services, LLCGenerally, appraising is a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
The appraiser's chief responsibility is to their client.
Typically, for a standard residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Appraisers are typically limited to only disclosing their findings to their clients, so as
a homeowner, if you want to obtain a copy of an appraisal report, you normally should obtain it through your lender and not the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - at McCormick Appraisal Services, LLC you can rest assured that we adhere to that rule.
When busy with an assignment, we follow the highest ethical standards possible. Accepting orders based on contingency fees is never an option. That means we can't agree to do an appraisal report and get paid only if the loan closes. There's an obvious conflict of interest if an appraiser can report a greater value with the reward of getting paid more money!
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "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", or "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 going above and beyond to get you an accurate home or property value.
With McCormick Appraisal Services, LLC, you won't have any doubts that you're receiving 100 percent ethical, professional service.