For honest and ethical appraisals, count on 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. So it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we are bound by an ethical code.

An appraiser's primary obligation is to his or her client. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like a copy of the appraisal document, you should obtain it from your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the report, reaching and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Alabama Appraisal Associates.

Appraisers can also have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - something else Alabama Appraisal Associates diligently adheres to.

When creating reports, we follow the highest ethical standards possible. We never do assignments on contingency fees. That is, we are not able to 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 perhaps the appraisal professions biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be defined 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 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," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.

With Alabama Appraisal Associates, you can be assured of 100 percent ethical, professional service.