Atlantic Appraisal Services upholds the highest professional ethics

Appraising is, by and large, a long term career. Requirements to become 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. In our field, as with any profession, we are bound by ethical considerations.

We have a lot of responsibilities as appraisers but our primary duty is to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to review the appraisal document, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and maintaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Atlantic Appraisal Services.

Appraisers may sometimes have fiduciary responsibilities to third parties, such as 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 knows, based on the scope of work or other written parameters of the assignment.

Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - something else Atlantic Appraisal Services makes a part of their standard routine.

We require the highest professional integrity possible from ourselves. We don't do assignments on contingency fees. That is, we can'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 perhaps the appraisal industries biggest taboo, because it would invite fraudulent practices since raising the estimate of the home would raise the fee. We don't do that. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.

As soon as you engage Atlantic Appraisal Services we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.