For honest and ethical appraisals, rely on Central Virginia Valuations LLC

We consider our what we do a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.

An appraiser's primary obligation is to his or her client. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you would like a copy of an appraisal report, you normally have to request it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Central Virginia Valuations LLC , we take these ethical responsibilities very seriously.

Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. 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 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 backup their work files for at least five years - something else Central Virginia Valuations LLC takes very seriously.

We demand the highest ethical standards possible from ourselves. Doing orders 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. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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," in addition to other situations We diligently 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.

With Central Virginia Valuations LLC , you can be assured of 100 percent ethical, honest service.