Honesty and Integrity: Alabama Appraisal Associates
Generally, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have a great deal of obligations as appraisers but above everything we answer to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require a copy of an appraisal report, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Alabama Appraisal Associates.
Alabama Appraisal Associates has worked hard for its reputation for producing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will frequently need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - something else Alabama Appraisal Associates makes a part of their standard routine.
Alabama Appraisal Associates holds itself to the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. 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 value of the home would up the their paycheck. We don't do that. 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 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 going above and beyond to objectively determine the home or property value.
With Alabama Appraisal Associates, you won't have any doubts that you're receiving 100 percent ethical, professional service.