For honest and ethical appraisals, count on Home Value Source, Inc.
We consider our what we do a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
As appraisers our chief responsibility is to his or her client. Normally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like a copy of the appraisal document, you generally have to obtain it from your lender. Other obligations also include, accurate sums appropriate to the parameters of the assignment, reaching and keeping a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Home Value Source, Inc., we take these ethical responsibilities very to heart.
Home Value Source, Inc. has worked hard for its track record for producing appraisals with the highest of ethics. To learn more Contact us
Appraisers will often need to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework 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 Home Value Source, Inc. takes very seriously.
When working on an appraisal, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we don'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 probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other improper practices may be established 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," as well as 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 Home Value Source, Inc., you can be assured of 100 percent ethical, honest service.