Property Valuation Group upholds the highest professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a great deal of obligations as appraisers but our chief duty is to our clients. Typically, for a regular residential appraisal, 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 require a copy of an appraisal report, you generally have to get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and keeping a particular 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 Property Valuation Group.
Property Valuation Group has an established track record for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers can also have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - at Property Valuation Group you can rest assured that we abide by that rule.
Property Valuation Group holds itself to the industry standards and rules set in place for professional behavior. We refuse to accept anything less from ourselves. Doing assignments on contingency fees is never an option. 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 perhaps the appraisal professions most important rule, because it would invite appraisal fraud since raising the value of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies that the 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," in addition to other situations We diligently 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.
With Property Valuation Group, you can be assured of 100 percent ethical, professional service.