Honesty and Integrity: Alabama Appraisal Associates

Appraising is typically a long term career. 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 definitely be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

We have many obligations as appraisers but our primary duty is to our clients. More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want a copy of an appraisal report, you normally have to get it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the report, acquiring and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Alabama Appraisal Associates, we take these ethical responsibilities very to heart.

Appraisers will regularly need to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted 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 clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else Alabama Appraisal Associates takes very seriously.

We demand the highest ethical standards possible from ourselves. Doing assignments on contingency fees is not something we can consider 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 biggest no-no, because it would invite appraisal fraud since raising the value of the home would inflate the their paycheck. We don't do that. Other unprofessional practices may be defined 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 follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.

With Alabama Appraisal Associates, you won't have any doubts that you're receiving 100 percent ethical, honest service.