Karen Mann & Associates - Appraisal and Expert Witness Services maintains the utmost professional ethics

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

We have quite a few responsibilities as appraisers but above everything we answer to our clients. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to obtain a copy of an appraisal report, you generally have to obtain it through your lender. Other obligations also include, accurate figures appropriate to the nature of the assignment, attaining and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Karen Mann & Associates - Appraisal and Expert Witness Services, we take these ethical responsibilities very to heart.

In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - something else Karen Mann & Associates - Appraisal and Expert Witness Services makes a part of their standard routine.

When creating reports, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal industries 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 unethical practices may be defined by state law or professional societies 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," in addition to other situations We diligently 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.

When you order an appraisal from Karen Mann & Associates - Appraisal and Expert Witness Services we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.