New Century Appraisals, llc provides honest and ethical appraisals for Middlesex County

For honest and ethical appraisals, rely on New Century Appraisals, llc

Generally, appraising is a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

An appraiser's chief obligation is to their client. Typically, 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 retained to maintain independence. Appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As a homeowner, if you want to review an appraisal report, you normally should get it through your lender and not the appraiser.

Other obligations include accurate calculations appropriate to the scope of the report, reaching and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is what we do every day at New Century Appraisals, llc.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Normally the third parties are specifically 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 written parameters of the assignment.


	New Century Appraisals, llc has worked hard for its track record for producing appraisals with the highest of ethics. To learn more, contact us.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - something else New Century Appraisals, llc makes a part of their standard routine.

When creating reports, we follow the highest ethical standards possible. Working on assignments where our fee is dependent on our value conclusion is not something we can consider. In other words, we don't agree to do an appraisal report and collect the fee only if the loan closes. Anyone should be able to see that fabricating a home's value to achieve what amounts to a bigger fee is unethical! We set ourselves to a higher standard.

Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") also states a violation in ethics 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be assured we are doing everything we can to get you an accurate home or property value.

With New Century Appraisals, llc, you can be assured of 100 percent ethical, honest service.