 For honest and ethical appraisals, count on ValPro Appraisal LLCBy and large, appraising is a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
The appraiser's chief obligation is to their client.
Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
It's important to know that a lot of details relating to an assignment are to be shared exclusively with the appraiser's client. As
a homeowner, if you want to review the appraisal document, you normally have to obtain it through your lender and not the appraiser.
Appraisers can frequently have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary role is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - at ValPro Appraisal LLC you can rest assured that we stick to that rule. We demand the highest ethical standards possible from ourselves. Accepting assignments based on contingency fees is not something we can consider. That is, we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's certainly a conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice explicitly 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 provide an unbiased determination of the home or property value. When you engage ValPro Appraisal LLC, we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for. |
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