V C Appraisals upholds the highest professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we are bound by an ethical code.
For an appraiser the primary responsibility is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you would like to review an appraisal report, you normally have to obtain it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the assignment, acquiring and keeping a respectable 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 seriously.
V C Appraisals has an established track record for providing competent and ethically superior appraisals. To learn more Contact us
Appraisers will frequently be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else V C Appraisals makes a part of their standard routine.
We meet or beat the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to 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 industries biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.
With V C Appraisals, you won't have any doubts that you're getting 100 percent ethical, professional service.