![]() ValueTex Appraisal Services upholds the highest professional ethicsAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have quite a few responsibilities as appraisers, but our chief 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 contracted in order to maintain independence.
Consequently, appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you desire to review the appraisal document, you normally should get it via your lender instead of the appraiser.
Appraisers will often be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - something else ValueTex Appraisal Services diligently adheres to. We demand the highest ethical standards possible from ourselves. Doing orders where our fee is dependent on our value conclusion is never an option. In other words, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. It should be apparent to anyone that fabricating a property's value to achieve essentially a higher paycheck is unethical! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also describes unethical behavior 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 rest easy knowing we are going above and beyond to objectively determine the home or property value. With ValueTex Appraisal Services, you can be assured of 100 percent ethical, honest service. |