REVARI (Real Estate Valuation and Research Inc.) maintains the highest professional ethics
Appraising is generally a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have a lot of obligations as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you want to obtain a copy of an appraisal report, you should get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, acquiring and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at REVARI (Real Estate Valuation and Research Inc.).
REVARI (Real Estate Valuation and Research Inc.) has worked hard for its track record for completing competent and ethically superior appraisals. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty 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 whom we share information. For example, appraisers must backup their work files for a minimum of five years - at REVARI (Real Estate Valuation and Research Inc.) you can rest assured that we adhere to that rule.
REVARI (Real Estate Valuation and Research Inc.) holds itself to the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. Working on orders that contingency fees is never an option. 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 invite fraudulent practices since raising the estimate of the home would up the their paycheck. We don't do that. Other unethical practices may be established by state law or professional organizations that the 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," in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
As soon as you request an appraisal from REVARI (Real Estate Valuation and Research Inc.) we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.