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After completing the report, what assurance is there that the value indicated is valid?

After completing the report, what assurance is there that the value indicated is valid?

In communicating an appraisal report, each Appraiser must ensure the following:

  • That the information analysis utilized in the Appraisal Report was appropriate
  • That significant errors of omission or commission were not committed individually or collectively
  • That services were not rendered in a careless or negligent manner
  • That a credible, supportable Appraisal Report was communicated

To become a designated Appraiser with The Appraisal Institute of Canada, Appraisers must fulfill rigorous education and experience requirements (see Become a CRA or AACI at www.aicanada.ca) and all active members of the Appraisal Institute of Canada must take continuing education courses in order to remain a member. In addition, Appraisers must abide by a strict industry code of ethics and comply with national standards of practice for Real Estate Appraisal – the rules for developing an Appraisal and reporting its results are insured by enforcement of the Canadian Uniform Standards of Professional Appraisal Practice.