When to engage an AIC designated appraiser
AIC-designated appraisers offer a broad scope of property valuation services to their clients. They provide an independent, informed, and professional opinion on the quality, value, or utility of a specific property.
An AIC-designated appraiser can be engaged when:
- renovating, building, buying or selling property
- financing or refinancing property
- making real estate investment decisions
- reviewing property tax assessments
- assessing capital gains
- making a claim for insurance purposes
- determining or facing expropriation compensation
- valuing property for matrimonial purposes, arbitration or other litigious matters
- business mergers, acquisitions or dissolutions involving real estate
- valuing private property acquired by governments for public use
AIC designations are recognized and respected world-wide
To effectively provide you with the comprehensive range of services listed above, AIC members complete a rigorous course of studies in all aspects of real estate valuation before they are granted the use of either of the AIC’s professional designations. These designations are nationally – and internationally - recognized hallmarks of quality. AIC members who have achieved them are widely respected and sought after by the courts, investors, federally and non-federally regulated financial institutions, all levels of government and the private sector. For many, an AIC-designated appraiser is the only appraisal professional of choice.
Canadian residential appraiser CRA™
The CRA designation held by Tracey Davies, is granted to individuals who have completed the CRA program of studies and fulfilled all the professional requirements of the Appraisal Institute of Canada. CRA members are qualified to offer valuation and consulting services and expertise for individual, undeveloped residential dwelling sites and dwellings containing not more than four self-contained family housing units.
The square footage debate
According to Appraisal Institute of Canada, Appraisers will abide by the following recommendations when estimating the square footage of a home.
Total living area space or the livable floor area includes only livable area above-grade that is heated year round.
This does not include three-season sun rooms, porches, verandas, or heated garages.
This does not include finished rooms in basements. Above grade are rooms that have no earth against any portion of their exterior wall.
Below-grade is space that has earth against the exterior wall. If earth is adjacent to any portion of a wall, the entire level is considered to be below-grade.