For honest and ethical appraisals, rely on Central Valley Home AppraisalWe think of our business as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. That's why 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 must follow strict ethical considerations.
The appraiser's primary obligation is to their client.
Most of the time, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Thereon, appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you want a copy of the appraisal document, you generally have to request it through your lender instead of the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - at Central Valley Home Appraisal you can rest assured that we adhere to that rule.
Central Valley Home Appraisal holds itself to the industry standards and rules set in place for ethics. We refuse to accept anything less from ourselves. Doing 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. There's a definite conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice also defines unethical behavior 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" as well as other situations. We follow these rules to the letter which means you can be assured we are working hard to get you an accurate home or property value.
With Central Valley Home Appraisal, you can be assured of 100 percent ethical, honest service.