Honesty and Integrity: Advantage Valley Appraisal, LLCTypically, appraising is a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we have a strict ethical code.
The appraiser's primary obligation is to their client.
Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that appraisers have certain duties of confidentiality to their clients, plus many rules and regulations to which we must adhere. So, as
a homeowner, if you would like to review the appraisal document, you generally should obtain it from your lender and not the appraiser.
Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - something else Advantage Valley Appraisal, LLC takes very seriously.
We demand the highest ethical standards possible from ourselves. Accepting orders where our fee is dependent on our value conclusion is not something we can consider. In other words, we don't agree to do an appraisal report and get paid only if the loan closes. Anyone should be able to see that fabricating a property's value to achieve what amounts to a bigger fee is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice explicitly 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.
With Advantage Valley Appraisal, LLC, you can be assured of 100 percent ethical, honest service.