 For honest and ethical appraisals, rely on CJ Vigil & Associates, Inc.We consider our job as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
An appraiser's main responsibility is to their client.
Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
It's important to know that many matters relating to an assignment are to be discussed with the appraiser's client. As
a homeowner, if you want to review the appraisal document, you generally have to obtain it through your lender and not the appraiser.
Appraisers will frequently need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - at CJ Vigil & Associates, Inc. you can rest assured that we stick to that rule. We demand the highest ethical standards possible from ourselves. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. That is, we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's a definite conflict of interest if an appraiser can report an unsubstantiated value and then get paid more money! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice also states 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", or "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 going above and beyond to objectively determine the home or property value. As soon as you engage CJ Vigil & Associates, Inc., we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |
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