How to Find Out the Qualifications of an Appraiser
Let’s face it‐ every single profession has members that are more qualified than others. By first confirming the qualifications and credentials of the appraiser you will get a better idea for the expected quality of work provided. The Appraisal Institute of Canada recommends that the most current Professional Appraisers have good solid experience, a University Degree – preferably a Business Degree, Mentoring/Articling and completed all the current requirements for the CRA (appraise up to 4 residential units) Designations and or the AACI (appraise ALL real estate including single family, multi family residential units and commercial component) Accreditations. Be sure to check the Appraisers Web Site and or phone and chat with them.
It’s important to know a little about your appraiser before he/she actually appraises your home. If they don’t possess the qualifications that meet your comfort needs; and you wait until after the appraisal has been completed to find this out, you may have to spend unnecessary time getting a “reconsideration of value”.
The Appraiser understands that this is your property, most likely your biggest investment/purchase, We consider selecting and analyzing the data that either duplicate/s or bracket/s all of your properties items and features.
The Appraiser will typically confirm your zoning. Whichever zoning classification your property is ‐ the comparable data is selected based on similar zoning of your property. Let us say your home is zoned commercial classification then the comparable/s selected should have similar use with similar zoning.
The Appraiser’s findings and the Appraisal Report is CONFIDENTIAL to the Appraiser, the Client (ie Brookfield Relocations, Bank) and the Property Owner. The Appraiser can NOT discuss your report with anyone else, unless specific permission from the CLIENT has been given.
**THE ABOVE INFORMATION is CONFIDENTIAL and can only be discussed with the CLIENT**
The Appraisal Institute of Canada, along with many North American Appraisal Organizations recommend that the most Professional Appraisers have good solid experience, preferably a Business Degree, and Appraiser Designations and Accreditations.