For honest and ethical appraisals, count on V C Appraisals

Appraising is, by and large, a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. So 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 are bound by an ethical code.

We have quite a few responsibilities as appraisers but above everything we answer to our clients. Normally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to obtain a copy of the appraisal document, you should obtain it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the assignment, acquiring and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at V C Appraisals, we take these ethical responsibilities very to heart.

Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.

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 - something else V C Appraisals diligently adheres to.

We demand the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we can't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite fraudulent practices since raising the estimate of the home would raise the their paycheck. We don't do that. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value.

With V C Appraisals, you won't have any doubts that you're receiving 100 percent ethical, honest service.