Gold Coast Valuations maintains the utmost professional ethics

We think of our job as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than 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, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to review an appraisal report, you normally have to obtain it through your lender. Other obligations also include, accurate figures appropriate to the scope of the assignment, acquiring and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is just normal course of business for us at Gold Coast Valuations.

Appraisers will frequently be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - at Gold Coast Valuations you can rest assured that we adhere to that rule.

We require the highest ethical standards possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would invite fraudulent practices since raising the estimate of the home would increase the fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "the amount of a value opinion," as well as 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 Gold Coast Valuations, you won't have any doubts that you're receiving 100 percent ethical, professional service.