Village Appraisal Ltd. upholds the highest professional ethics
We consider our what we do a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have quite a few obligations as appraisers but above everything we answer to our clients. Most of the time, in residential practice, 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 desire to review an appraisal report, you generally have to request it from your lender. Other obligations also include, accurate calculations appropriate to the parameters of the assignment, attaining and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Village Appraisal Ltd..
Village Appraisal Ltd. has worked hard for its track record for completing appraisals with the highest of ethics. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other written parameters 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 Village Appraisal Ltd. diligently adheres to.
We require the highest ethical standards possible from ourselves. Working on orders that 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. We don't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite fraudulent practices since raising the value of the home would up the their paycheck. We don't do that. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 diligently follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.
With Village Appraisal Ltd., you won't have any doubts that you're receiving 100 percent ethical, honest service.