Meaning of appraisal
An appraisal is nothing but an opinion or an estimation regarding the fair market value of a property.
Estimating the fair market value of a property is extremely important for financing, sales listing, taxation, estate, separation and many other legal purposes.
The Appraisal Institute of Canada (AIC), the premier real property valuation association in Canada was founded in 1938. The AIC is a self-regulating professional organization with over 5400 Members across the country.
Details regarding education and Accreditation
AIC grants the distinguished
Canadian Residential Appraiser – CRA and Accredited Appraiser Canadian Institute – AACI designations to individuals across Canada and around the world.
A CRA Designated Member is capable of undertaking a residential real estate property assignment only if the residential property contains not more than 4 family housing units or is an undeveloped residential site.
Any designated member of the AACI is capable of undertaking any real estate assignment. With the required experience, competence with the real estate property type and geographical market influence, any designated member can undertake a project.
Property types can include:
Residential
Commercial
Industrial
Institutional
Agricultural
Land and special use.
The designations mentioned above are of high value and are only given to individuals who are qualified enough and have completed the AICs curriculum, experience and requirements.
It is mandatory to include a persons AIC designation and status when mentioning the name of an AIC member. This includes instances where letter of transmittal is required, reporting, certification or any other instance where the professional qualification of the member needs to be mentioned.
Conclusion
With residential appraisals on the peak, we offer top-notch services to all professionals who are involved in the residential appraisal business. These professionals may include mortgage lenders, private lenders and lawyers. We are also approved for all major lenders.
With very well experienced 3 CRA’s and 2 candidate AIC members on staff, We offer the best possible turn around time in the industry for all residential appraisals and fair market value for the property.
Contact details
For more details, call us at ( +1 (647) 297-5636)