
In person viewings
What to expect:
We typically photograph every room and may request to video our walk-through as it allows for more thorough data collection and verification. This can speed up the viewing process, which can be beneficial, but it is not mandatory. For single-family, semi-detached, duplexes, and townhomes, we fully measure the exterior and take interior measurements to verify the Gross Living Area (GLA), basement, garages, and other significant structures. While printed or digital house plans may be helpful, we still need to take sufficient measurements to ensure their accuracy. We are not home inspectors but aim to gather as much pertinent data as possible for the report’s purpose and intent. We understand the stress of having strangers in your home and take your privacy seriously. We do not share any collected information with anyone other than the intended users or as legally obligated by PIPEDA and/or PIPA Canadian privacy acts. We will only share confidential information at the request of a judge or judiciary authority in extraordinary circumstances.

Can I get a copy of the report ordered for XYZ Lender?
What to expect:
The appraiser may not be able to receive direct approval from the lender, particularly from major lenders. If the borrower would like a copy, they should request it through their contact in the borrowing process, such as their mortgage broker, lender’s staff, or agents. Similarly, the report cannot be shared without the appraiser’s consent. Lenders have varying policies in this regard, and some may provide a report with most of the information redacted, including the appraisal firm, the Appraisal Management Company (AMC) if applicable, addresses, and information on comparable sale properties, and comments on comparable sale properties. For further clarification or assistance, please contact us.

Restricted Appraisal/ Scope of Work?
What to expect:
In some cases, the lender may rely on a less detailed report, and the provided value is usually a range. This range is based on the appraiser’s analysis of the probable variation due to the limited scope of work and the lack of verification of the actual physical condition, along with other factors such as determining the actual size, percentage of finished floor area, basement finish, and any other extras not visible from the street or available from reliable third-party data.
“Scope of work” refers to the level of analysis and reporting that the appraiser believes is necessary to produce a credible opinion of value and report sufficient for its intended purpose. Although clients or lenders may set minimum or maximum levels of analysis and reporting, the appraiser has the final say in determining what is required and sufficient to produce reliable results.
For the average borrower or applicant, the scope of work may not mean much, but it becomes important in cases where the agent or mortgage broker has ordered a certain type of appraisal only to find out that the an appraiser could not complete the assignment based on the restricted report type. For example, the borrower may have been told they ordered a drive-by or desktop appraisal. Often, this is acceptable as long as the appraiser can gather sufficient data on the subject. However, there are many cases where there is simply not enough information, or the range of possible outcomes resulting from the limitation on the data is too great to provide a conclusion sufficient for the intended use of the report. In such cases, the appraiser must either request to modify the scope of work or decline the assignment. This is also the case with market rent reports.

Acreage Appraisals for residential lending
What to expect:
We will almost always view and collect data on outbuildings. Gathering this data may not be necessary and is handled on a case-by-case basis, though this is generally rare and some lenders require we collect this information even if they intend to exclude those components from the value. In the case of a sale, or if the property was recently purchased within the prior three years, we must almost always gather this data and determine the value those components may contribute to the full market value or sale price. The appraiser will need to attempt to reconcile any disparities. In general, these limitations are a way for the lender to limit their risk and be more certain that, in the event of foreclosure, they will more easily recoup their investment, allowing them to lend at a lower interest rate.

The appraiser wants a copy of the purchase and sale agreement. Is this allowed?
What to expect:
While knowledge of the sale price is almost always present, the appraiser’s full understanding of all known conditions prerequisite to the sale should outweigh the aversion to any bias the sale price alone may influence. USPAP 2024 Standards Rule 1-5(a) requires an appraiser to analyze all agreements of sale, options, or listings of the subject property current as of the effective date of the appraisal if such information is available in the normal course of business. When the property is known to be the subject of a pending transaction, the appraiser should ask the client for the terms of the agreement. If this request is denied, the appraiser should make reasonable attempts to obtain this information from other sources by legal means commonly available and practiced by the appraiser’s peers. The Comment to Standards Rules 2-2(a)(x)(3) and (b)(xii)(3) also requires a statement on the efforts undertaken by the appraiser to obtain any unobtainable information. If such information is irrelevant, a statement acknowledging the existence of the information and citing its lack of relevance is required.