For honest and ethical appraisals, count on RG Valuations LLC

Appraising is typically a long term career. 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 called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.

As appraisers our primary obligation is to his or her client. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to review the appraisal document, you generally have to request it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at RG Valuations LLC, we take these ethical responsibilities very seriously.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters 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 - at RG Valuations LLC you can rest assured that we abide by that rule.

We meet or beat the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. Doing orders on contingency fees is never an option. 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 biggest no-no, because it would invite appraisal fraud since increasing the value of the home would raise the fee. We set ourselves to a higher standard. Other improper 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 follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.

When you engage RG Valuations LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.