VA-MD Appraisal Group, LLC. maintains the highest professional ethics

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. As with any profession we are bound by ethical considerations.

We have quite a few responsibilities as appraisers but first and foremost we answer to our clients. More often than not, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you want a copy of the appraisal document, you should request it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at VA-MD Appraisal Group, LLC., we take these ethical responsibilities very seriously.

Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. 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 written parameters of the assignment.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else VA-MD Appraisal Group, LLC. diligently adheres to.

We only perform to the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we can't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries biggest taboo, because it would invite appraisal fraud since increasing the estimate of the home would inflate the fee. We don't do that. Other unprofessional practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior as the acceptance 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 follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.

As soon as you request an appraisal from VA-MD Appraisal Group, 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.