For honest and ethical appraisals, count on Atlantic Coast Appraisers & Associates, Inc.Appraising is a profession, and appraisers are professionals. Requirements to become a certified appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
An appraiser's primary responsibility is to their client.
Normally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence.
Subsequently, appraisers have certain duties of privacy to their clients, plus strict rules and regulations to which we must adhere. So, as
a homeowner, if you would like to obtain a copy of an appraisal report, you generally have to request it via your lender.
Appraisers will frequently need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. 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.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Atlantic Coast Appraisers & Associates, Inc. you can rest assured that we adhere to that rule.
We only perform to the highest ethical standards possible. Accepting assignments based on contingency fees is never an option. That means we don't agree to do an appraisal report and collect the fee only if the loan closes. There's certainly a conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice clearly defines unethical behavior as accepting 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.
When you request an appraisal from Atlantic Coast Appraisers & Associates, Inc., we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for.