Honesty and Integrity: Property Valuation Group

Appraising is a profession, and appraisers are professionals. Requirements to become 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 unquestionably be called a profession as opposed to a trade. As with any profession we have a strict ethical code.

For an appraiser the chief obligation is to their client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you require to review the appraisal document, you should obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at Property Valuation Group.

Property Valuation Group provides honest and ethical appraisals for Oakland County

Property Valuation Group has worked hard for its track record for completing competent and ethically superior appraisals. Contact us today to learn more.

Appraisers will often need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else Property Valuation Group diligently adheres to.

While working on an order, we follow the highest ethical standards possible. Doing assignments on 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. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would increase the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations that the 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 rest easy knowing we are working hard to objectively determine the home or property value.

As soon as you engage 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.