 For honest and ethical appraisals, trust Venture Appraisal, Inc.Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
The appraiser's primary responsibility is to their client.
Normally, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
Consequently, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you want a copy of an appraisal report, you normally have to obtain it via your lender instead of the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - at Venture Appraisal, Inc. you can rest assured that we adhere to that rule. When creating reports, we follow the highest ethical standards possible. Working on assignments where our fee is dependent on our value conclusion is not something we can consider. In other words, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. There's certainly a conflict of interest if an appraiser can report a larger value and then get paid more money! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly defines 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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to get you an accurate home or property value. With Venture Appraisal, Inc., you can be assured of 100 percent ethical, professional service. |
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