Honesty and Integrity: True Point Valuation Services

We consider our our business a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

As appraisers our primary obligation is to his or her client. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you desire to review the appraisal document, you should get it from your lender. Other responsibilities also include, accurate figures appropriate to the scope of the assignment, reaching and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at True Point Valuation Services, we take these ethical responsibilities very seriously.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser is aware of, 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 keep their work files for a minimum of five years - at True Point Valuation Services you can rest assured that we stick to that rule.

True Point Valuation Services holds itself to the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Working on orders that contingency fees is never an option. That is, we don'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 perhaps the appraisal professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies 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 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.

With True Point Valuation Services, you can be assured of 100 percent ethical, professional service.