FREQUENTLY ASKED QUESTIONS

AIC-designated real estate appraisers are highly-trained and qualified property valuation professionals. They will provide you with an impartial written estimate or opinion of the value of a property you might be considering purchasing, selling or investing in. Their appraisals are based on a recognized valuation process that considers a range of factors including the size, condition and location of the property, recent sale values of similar properties, market conditions, and more.

Buying or selling property is typically the biggest financial decision any of us make. An appraisal from a designated appraiser may be needed to:

• Obtain a qualified opinion of value for mortgage or lending purposes.

• Provide investors with adequate information for making investment decisions.

• Provide expert opinions of the value of real property as a basis of compensation when a property is being expropriated by the government.

• Provide expert opinions of the value of real property in legal disputes and settlements.

The Appraisal Institute of Canada (AIC) designates appraisers after years of training and experience in the field. There are two designations: CRA P. App; and AACI, P. App. CRA P. App. – Canadian Residential Appraiser (CRA) Appraisers holding this designation are qualified to appraise and value individual undeveloped resident dwelling sites and dwellings containing not more than four self-contained family housing units. AACI, P. App.- Accredited Appraiser Canadian Institute, Professional Appraiser Appraisers holding this designation are qualified to appraise and value a wide range of residential, commercial and industrial real property.