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AC Appraisal International, Ltd. provides honest and ethical appraisals for Suffolk County

Honesty and Integrity: 

AC Appraisal International, Ltd.

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age 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 quite a few responsibilities as appraisers, but our main duty is to our clients. More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has contracted in order to maintain independence. Subsequently, appraisers are typically restricted to only disclosing their findings to their clients, so as a homeowner, if you desire to review an appraisal report, you generally should obtain it via your lender instead of the appraiser.

Other obligations include numerical accuracy depending on the scope of the assignment, reaching and sustaining a particular level of competency and education, and naturally, the appraiser must bear a professional demeanor. Here at AC Appraisal International, Ltd., we take these ethical responsibilities to heart.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out 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 written parameters of the order.

AC Appraisal International, Ltd. has an established track record for completing appraisals with the highest of ethics. To learn more, contact us.


There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - at AC Appraisal International, Ltd. you can rest assured that we abide by that rule.

 

AC Appraisal International, Ltd. holds itself to the industry standards and rules set in place for ethics. We won't accept anything less from ourselves. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. That is, we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's certainly a conflict of interest if an appraiser can report a larger value and then get paid more money! We just don't do it.

Finally, the Uniform Standards of Professional Appraisal Practice also defines 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", 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 objectively determine the home or property value.

As soon as you order an appraisal from AC Appraisal International, Ltd., we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for.

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