We uphold the utmost professional ethics
We consider our what we do a profession. 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 certainly be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
We have many obligations as appraisers but above everything we answer to our clients. Normally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like a copy of an appraisal report, you normally have to get it through your lender. Other obligations also include, accurate sums appropriate to the nature of the report, attaining and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is is what we do everyday at Velardo Appraisal Group.
Velardo Appraisal Group 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, such as homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Velardo Appraisal Group you can rest assured that we stick to that rule.
Velardo Appraisal Group holds itself to the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. Doing assignments on contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since raising the estimate of the home would up the fee. We don't do that. Other improper 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," as well as 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.
With Velardo Appraisal Group, you can be assured of 100 percent ethical, honest service.