For honest and ethical appraisals, count on REVARI (Real Estate Valuation and Research Inc.)
We think of what we do as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
For an appraiser the main responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to review the appraisal document, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, acquiring and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at REVARI (Real Estate Valuation and Research Inc.), we take these ethical responsibilities very to heart.
REVARI (Real Estate Valuation and Research Inc.) has an established track record for providing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will often need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of 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 job.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else REVARI (Real Estate Valuation and Research Inc.) makes a part of their standard routine.
We meet or beat the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper 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 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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.
With REVARI (Real Estate Valuation and Research Inc.), you can be assured of 100 percent ethical, honest service.