Las Vegas Appraisal Service, Inc. upholds the highest professional ethics

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we are bound by an ethical code.

We have many obligations as appraisers but our chief duty is to our clients. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you desire to obtain a copy of an appraisal report, you generally have to obtain it through your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, reaching and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Las Vegas Appraisal Service, Inc., we take these ethical responsibilities very to heart.

Appraisers may also have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - at Las Vegas Appraisal Service, Inc. you can rest assured that we abide by that rule.

We require the highest professional integrity possible from ourselves. We don't 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 don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite appraisal fraud since raising the value of the home would up the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies that the 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 at ease knowing we are going above and beyond to objectively determine the home or property value.

When you engage Las Vegas Appraisal Service, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.