121Valuation upholds the highest professional ethics

An appraiser's chief obligation is to their client. Generally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client. Subsequently, appraisers have certain duties of confidentiality to their clients, plus strict rules and regulations that must be followed. As a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to obtain it via your lender.

Other responsibilities include numerical accuracy depending on the assignment parameters, attaining and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at 121Valuation, we take these ethical responsibilities very seriously.

Appraisers can regularly 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 role is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

	121Valuation has worked hard for its track record for providing appraisals with the highest of ethics. Contact us today to learn more.

Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - something else 121Valuation diligently adheres to.

We only perform to the highest ethical standards possible. Working on orders based on contingency fees is never an option. That means we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. There's a definite conflict of interest if an appraiser can report a greater value and then get paid more money! This isn't how we operate.

Finally, the Uniform Standards of Professional Appraisal Practice also describes 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" as well as other situations. We diligently follow these rules to the letter which means you can be confident we are going above and beyond to get you an accurate home or property value.

When you request an appraisal from 121Valuation, we'll make sure you're getting the professional service you expect along with the business principles we're known for.