Honesty and Integrity: Alabama Appraisal Associates
We think of what we do as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.
The appraiser's main responsibility is to their client. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you desire a copy of an appraisal report, you should get it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the assignment, reaching and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Alabama Appraisal Associates, we take these ethical responsibilities very to heart.
Alabama Appraisal Associates has worked hard for its track record for producing competent and ethically superior appraisals. To learn more Contact us
Appraisers will frequently need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Alabama Appraisal Associates you can rest assured that we stick to that rule.
We meet or beat the industry standards and rules set in place for ethics. We refuse to accept anything less from ourselves. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would increase the fee. We don't do that. Other unprofessional practices may be established by state law or professional societies to which an 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 diligently follow these rules to the letter which means you can be confident we are doing everything we can to objectively determine the home or property value.
As soon as you engage Alabama Appraisal Associates we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.