Property Valuation Group maintains the utmost professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we have a strict ethical code.
For an appraiser the primary obligation is to their client. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to obtain a copy of an appraisal report, you should request it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at Property Valuation Group.
Property Valuation Group has worked hard for its track record for providing appraisals with the highest of ethics. To learn more Contact us
Appraisers may regularly have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at Property Valuation Group you can rest assured that we abide by that rule.
We demand the highest professional integrity possible from ourselves. Working on assignments that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite fraudulent practices since raising the value of the home would increase the their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as you request an appraisal from Property Valuation Group we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.