Honesty and Integrity: Las Vegas Appraisal Service, Inc.
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to 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. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you desire to review the appraisal document, you should obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Las Vegas Appraisal Service, Inc., we take these ethical responsibilities very to heart.
Las Vegas Appraisal Service, Inc. has an established track record for producing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can often have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - at Las Vegas Appraisal Service, Inc. you can rest assured that we stick to that rule.
We require the highest professional integrity possible from ourselves. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.
With Las Vegas Appraisal Service, Inc., you won't have any doubts that you're getting 100 percent ethical, honest service.