Vigar Valuations upholds the utmost professional ethics

We think of our job as a profession. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.

An appraiser's main responsibility is to his or her client. More often than not, 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 would like a copy of the appraisal document, you should obtain it from your lender. Other responsibilities also include, accurate sums appropriate to the nature of the report, acquiring and maintaining a particular 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 Vigar Valuations.

Appraisers will frequently need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - something else Vigar Valuations makes a part of their standard routine.

We require the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite appraisal fraud since raising the value of the home would inflate the fee. We don't do that. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs.

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

When you request an appraisal from Vigar Valuations we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.