For honest and ethical appraisals, trust Lumino Valuation Group, Inc.

We consider our our job a profession. The rigors of becoming 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 unquestionably be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have many responsibilities as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you desire to review the appraisal document, you normally have to get it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Lumino Valuation Group, Inc., we take these ethical responsibilities very seriously.

Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at Lumino Valuation Group, Inc. you can rest assured that we abide by that rule.

Lumino Valuation Group, Inc. holds itself to the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. We never do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect the fee 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 raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations 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 follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.

When you request an appraisal from Lumino Valuation Group, Inc. we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.