Honesty and Integrity: Realty Valuators, Inc
We think of our business as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
We have many responsibilities as appraisers but above everything we answer to our clients. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require to review the appraisal document, you should request it through your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the assignment, reaching and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Realty Valuators, Inc, we take these ethical responsibilities very seriously.
Realty Valuators, Inc has an established reputation for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers will regularly need to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Generally 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 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 Realty Valuators, Inc you can rest assured that we adhere to that rule.
We demand the highest professional integrity possible from ourselves. Doing assignments 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. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite fraudulent practices since increasing the value of the home would increase the fee. We set ourselves to a higher standard. 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 states 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 confident we are working hard to provide an unbiased determination of the home or property value.
When you engage Realty Valuators, Inc 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.