For honest and ethical appraisals, trust Quality Valuation Service

We think of what we do as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we have a strict ethical code.

An appraiser's primary responsibility is to their client. Normally, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want a copy of an appraisal report, you should obtain it from your lender. Other responsibilities also include, accurate figures appropriate to the nature of the assignment, reaching and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Quality Valuation Service, we take these ethical responsibilities very seriously.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in scope of 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 written parameters of the order.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - at Quality Valuation Service you can rest assured that we stick to that rule.

We demand the highest ethical standards possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we can't 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 professions most important rule, because it would invite appraisal fraud since raising the value of the home would up the fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations to which an 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 follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.

With Quality Valuation Service, you won't have any doubts that you're receiving 100 percent ethical, professional service.