For honest and ethical appraisals, count on 1 Valuations LLC

Typically, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have many obligations as appraisers but above everything we answer to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to review an appraisal report, you normally have to obtain it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at 1 Valuations LLC, we take these ethical responsibilities very seriously.

Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - at 1 Valuations LLC you can rest assured that we stick to that rule.

We require the highest ethical standards possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite appraisal fraud since raising the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.

As soon as you engage 1 Valuations LLC we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.