Comprehensive Valuation Services, LLC maintains the highest professional ethicsTypically, appraising is a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we are bound by an ethical code.
We have quite a few obligations as appraisers, but our chief duty is to our clients.
Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you would like to review an appraisal report, you normally should request it from your lender instead of the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is restricted 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 store their work files for at least five years - at Comprehensive Valuation Services, LLC you can rest assured that we stick to that rule.
Comprehensive Valuation Services, LLC holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Accepting assignments where our fee is dependent on our value conclusion is never an option. That means we can't agree to do an appraisal report and collect the fee only if the loan closes. Anyone should be able to see that inflating a value to achieve what amounts to a bigger paycheck is unethical!
Finally, the Uniform Standards of Professional Appraisal Practice also defines 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.
When you engage Comprehensive Valuation Services, LLC, we'll make sure you're getting the professional service you deserve along with the business principles we're known for.