For honest and ethical appraisals, count on Alabama Appraisal and Associates LLC

Appraising is a profession, and appraisers are professionals. Requirements to become 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 as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

We have many responsibilities as appraisers but our chief duty is to our clients. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. 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 obtain it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Alabama Appraisal and Associates LLC, we take these ethical responsibilities very seriously.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - at Alabama Appraisal and Associates LLC you can rest assured that we abide by that rule.

We only perform to the highest ethical standards possible. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the value of the home would increase 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 working hard to objectively determine the home or property value.

With Alabama Appraisal and Associates LLC, you won't have any doubts that you're getting 100 percent ethical, professional service.