Honesty and Integrity: Phoenix Valuations, LLC
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
The appraiser's chief responsibility is to his or her client. More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you desire to review an appraisal report, you should obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Phoenix Valuations, LLC, we take these ethical responsibilities very to heart.
Phoenix Valuations, LLC has worked hard for its reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will regularly need to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary roll is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - something else Phoenix Valuations, LLC makes a part of their standard routine.
Phoenix Valuations, LLC holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since raising the value of the home would raise the their paycheck. We don't do that. 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 defines 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 follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.
When you engage Phoenix Valuations, LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.