Mellon Appraisal Service upholds the highest professional ethics

Appraising is, by and large, 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 unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have many responsibilities as appraisers but first and foremost we answer to our clients. Typically, 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 would like a copy of the appraisal document, you should request it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Mellon Appraisal Service.

Appraisers will sometimes be obligated to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - at Mellon Appraisal Service you can rest assured that we stick to that rule.

We demand the highest professional integrity possible from ourselves. Doing orders on contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We can'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 up the their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.

With Mellon Appraisal Service, you can be assured of 100 percent ethical, professional service.