For honest and ethical appraisals, count on Davis Appraisals (434) 384-7288Appraising is, by and large, a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have quite a few responsibilities as appraisers, but our main duty is to our clients.
Most of the time, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has brought in to maintain independence.
It's important to know that a lot of elements relating to an assignment are to be discussed exclusively with the appraiser's client. As
a homeowner, if you would like to review an appraisal report, you normally should get it via your lender and not the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary role is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - at Davis Appraisals (434) 384-7288 you can rest assured that we abide by that rule.
We meet or exceed the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Accepting assignments where our fee is dependent on our value conclusion is not something we can consider. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that inflating a value to achieve what amounts to a higher paycheck is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly describes a violation in ethics as the acceptance 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" as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.
As soon as you engage Davis Appraisals (434) 384-7288, we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for.