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Basic Appraisal Form for Canada

Basic Appraisal Form Template for Canada

A standardized Canadian property appraisal document that complies with the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) and relevant provincial regulations. This comprehensive form provides a professional opinion of value for real property, including detailed analysis of property characteristics, market conditions, and valuation methodology. The document incorporates essential elements required by Canadian legislation and professional standards, ensuring it meets the requirements for use in legal, financial, and real estate transactions across Canadian jurisdictions.

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Basic Appraisal Form

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What is a Basic Appraisal Form?

The Basic Appraisal Form is a fundamental document used across Canadian jurisdictions for providing professional opinions of property value. This standardized form is designed to meet the requirements of the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) and provincial regulatory bodies. The document is typically used for mortgage lending, property transactions, insurance purposes, and other situations requiring formal property valuation. It includes comprehensive property analysis, market evaluation, and value conclusions, supported by relevant data and professional certification. The Basic Appraisal Form must be completed by qualified appraisers and can be adapted to various property types while maintaining compliance with Canadian federal and provincial regulations.

What sections should be included in a Basic Appraisal Form?

1. Client Information: Details of the client requesting the appraisal, including contact information and client file reference number

2. Subject Property Identification: Complete legal description and civic address of the property being appraised

3. Purpose and Intended Use: Clear statement of the appraisal's purpose and intended use, including intended users

4. Property Rights Appraised: Specification of the property rights being valued (fee simple, leasehold, etc.)

5. Effective Date of Appraisal: Date of value and date of inspection

6. Property Description: Physical characteristics of the property, including lot size, building features, and improvements

7. Area and Neighborhood Analysis: Overview of the property's location, neighborhood characteristics, and market area

8. Highest and Best Use: Analysis and conclusion of the property's highest and best use

9. Valuation Approach: Description of the valuation methodology used and rationale

10. Value Conclusion: Final value estimate and reconciliation of approaches used

11. Certification: Appraiser's certification of compliance with standards and independence

12. Assumptions and Limiting Conditions: Standard and extraordinary assumptions and limiting conditions affecting the appraisal

What sections are optional to include in a Basic Appraisal Form?

1. Cost Approach: Detailed analysis using the cost approach, required when relevant to property type and market conditions

2. Income Approach: Analysis using the income approach, required for income-producing properties

3. Environmental Assessment: Overview of environmental conditions when environmental issues are present or suspected

4. Development Analysis: Analysis of development potential when appraising vacant land or properties with development potential

5. Historical Sales Analysis: Detailed analysis of previous sales when multiple transactions have occurred within recent years

6. Rental Analysis: Analysis of rental market when relevant to the property type or intended use

What schedules should be included in a Basic Appraisal Form?

1. Photographs: Comprehensive set of property photographs including exterior, interior, and street scenes

2. Location Maps: Maps showing property location, neighborhood context, and relevant features

3. Site Plan: Detailed plan showing property boundaries, improvements, and relevant site features

4. Floor Plans: Building floor plans and measurements

5. Title Documents: Relevant title documentation and registered encumbrances

6. Comparable Sales Data: Detailed information on comparable properties used in the analysis

7. Qualifications of the Appraiser: Professional qualifications and licenses of the appraiser

8. Supporting Documentation: Additional relevant documents such as zoning information, permits, or engineering reports

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Canada

Document Type

Evaluation Form

Cost

Free to use
Relevant legal definitions



































Clauses




















Relevant Industries

Real Estate

Banking & Financial Services

Insurance

Property Development

Government & Public Sector

Legal Services

Construction

Property Management

Mortgage Services

Asset Management

Relevant Teams

Real Estate

Mortgage Services

Risk Assessment

Legal

Property Management

Asset Valuation

Underwriting

Investment Analysis

Property Development

Portfolio Management

Relevant Roles

Real Estate Appraiser

Mortgage Underwriter

Property Assessor

Real Estate Agent

Mortgage Loan Officer

Property Developer

Asset Manager

Insurance Underwriter

Real Estate Lawyer

Property Manager

Investment Analyst

Risk Assessment Officer

Real Estate Portfolio Manager

Valuation Specialist

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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