Honesty and Integrity: True Valuation, Inc.

Appraising is generally a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

An appraiser's primary responsibility is to their client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you desire to review the appraisal document, you should get it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the report, acquiring and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at True Valuation, Inc., we take these ethical responsibilities very to heart.

Appraisers can frequently have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at True Valuation, Inc. you can rest assured that we stick to that rule.

True Valuation, Inc. holds itself to the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. Doing assignments on contingency fees is never an option. 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 probably the appraisal industries biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other improper practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.

With True Valuation, Inc., you can be assured of 100 percent ethical, honest service.