Question about Canadian appraisal standards

[PropertyEconomics]

Then I'd venture that you aren't competent to review in Canada if you aren't licensed there.

I'd also prefer if reviewers had to be licensed from the state that the appraisal was performed in. As I commented in another thread, in the review forum, it's ignorant to do otherwise. But that's my just my humble, dumb, opinion.

A technical review can be performed by anyone in any state that is licensed. While I appreciate appraisers attempting to create more work for themselves (and more revenue for the states) the unintended consequences of such laws could actually harm the citizens of those states.

A review for value I can agree with regarding market competency ... but a technical review I believe a license in the state in which the property is located is over kill and not necessary.

 

[Vernon Martin]

How can you review appraisals from Canada, when you're not competent?

I'm not sure where you're going with this. Are you suggesting that I am not competent to determine if an "as is" value was estimated, not competent to call the Rural Municipality to check zoning, or check with the provincial land registry to see if the land had been legally subdivided?

My client, a private commercial lender, sees that the Canadian commercial real estate market is performing better than the US commercial real estate market and is soliciting loan applications, but wants to know if the Canadian appraisals accompanying the loan applications meet U.S. standards. Wouldn't an American appraiser be in a better position to determine if the appraisals meet U.S. standards? And seeing that these appraisals fall short of US standards, should the client hire a Canadian reviewer instead? That's why I asked the questions that started this thread.

It bothers me that my client is getting Canadian appraisals that are based on assumptions of zoning changes and subdivision approvals that have not happened, without disclosing that they have not happened, and these appraisals are signed by appraisers with AACI and MRICS designations, so naturally I ask "what are the rules in Canada and who can I trust?"

Seeing that you're a residential appraiser, however, I suppose your concern is that I don't have access to the Saskatchewan MLS system.

 

[Michigander]

You may search the Appraisal Institute of Canada site for appraisers across Canada for any property type at: http://component.aicanada.ca/e/findappraiser_find.cfm

You may also be served by searching CNAREA. The AIC is not the only game in town (or country).

http://www.cnarea.ca/searchIntl.php

 

[AnonApprsr]

Seeing that you're a residential appraiser, however, I suppose your concern is that I don't have access to the Saskatchewan MLS system.

Yeah, us lowly residential appraisers are lucky we even get to come to this forum to bask in the glow that is you, and your mighty brethren. Vast is your knowledge and skill, and as the residential pleeb I am, I bow down to it.

 

[Pittsburgh Pete]

Yeah, us lowly residential appraisers are lucky we even get to come to this forum to bask in the glow that is you, and your mighty brethren. Vast is your knowledge and skill, and as the residential pleeb I am, I bow down to it.

If only your groveling were sincere plebe!

 

[Vernon Martin]

My client is asking for a specific recommendation of a Saskatchewan appraiser specializing in north Saskatchewan. Closest town is Leask.

 

[Roy Somers]

Vernon,
There are two that I know of in Prince Albert, about 50 miles from Leask. Eric Jonasson, DAC and Stephen Ring, DAC. Both are CNAREA certified commercial designated appraisers. CNAREA abides by USPAP. PM or email me and I will get they're phone numbers to you.

 

[Vernon Martin]

Roy, thanks. After pm'ing you, I found their contact info.

 

[ddnma]

Roy, thanks. After pm'ing you, I found their contact info.

you might also want to contact Steve Coull- contact information is on the website- http://www.cnarea.ca/

Phone: 1-888-399-3366
Steven G. Coull, Executive Director & Director of Education

Steve is very familiar with Canadian and US standards.