The Confirmation Appraisal Form is a crucial document in Canadian real estate and financial transactions, used to provide a clear and authoritative statement of a property's appraised value. This form is typically required when there is a need to establish or confirm property value for purposes such as mortgage lending, property sale, tax assessment, or legal proceedings. The document must comply with provincial appraisal regulations and the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP). A properly completed Confirmation Appraisal Form includes essential information about the subject property, the valuation methodology used, any assumptions or limiting conditions, and the appraiser's professional certification. It serves as a summary document that confirms the findings of a more detailed appraisal report and can be relied upon by various stakeholders in real estate transactions and financial decisions.
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1. Client Information: Details of the party requesting the appraisal, including contact information and client reference number
2. Subject Property Information: Complete identification and description of the property being appraised, including legal description and civic address
3. Purpose and Intended Use: Clear statement of the appraisal purpose and intended use of the report
4. Value Definition: Definition of the type of value being estimated (e.g., market value, liquidation value)
5. Effective Date: Date of the appraisal and date of report
6. Property Rights Appraised: Specification of the property rights being valued (fee simple, leasehold, etc.)
7. Value Conclusion: Final appraised value and the currency in which it is expressed
8. Appraiser Certification: Professional certification statement and compliance with CUSPAP
9. Assumptions and Limiting Conditions: Standard and specific assumptions and limitations of the appraisal
1. Extraordinary Assumptions: Used when specific assumptions that are uncertain affect the assignment results
2. Hypothetical Conditions: Include when the appraisal is based on conditions contrary to what exists but supposed for the purpose of analysis
3. Scope of Work Variations: Added when there are deviations from normal scope of work
4. Previous Services Disclosure: Required if the appraiser has provided services regarding the subject property within the prior three years
5. Market Analysis Summary: Optional brief overview of market conditions affecting the property value
6. Environmental Issues: Include when environmental concerns are present or suspected that could affect value
1. Photographs: Interior and exterior photographs of the subject property
2. Location Map: Map showing the property's location and surrounding area
3. Site Plan: Diagram or plan showing the property boundaries and improvements
4. Title Documents: Relevant title or legal documents referenced in the appraisal
5. Professional Qualifications: Appraiser's professional credentials and qualifications
6. Comparable Sales Data: Details of comparable properties used in the valuation analysis
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Banking & Financial Services
Insurance
Legal Services
Government & Public Sector
Construction & Development
Property Management
Asset Management
Corporate Real Estate
Mortgage Lending
Relevant Teams
Real Estate
Legal
Risk Management
Mortgage Services
Property Management
Asset Management
Underwriting
Credit Assessment
Investment
Corporate Services
Valuations
Development
Insurance
Compliance
Finance
Relevant Roles
Real Estate Appraiser
Mortgage Underwriter
Property Assessor
Real Estate Lawyer
Mortgage Broker
Property Manager
Asset Manager
Real Estate Agent
Insurance Underwriter
Financial Advisor
Banking Officer
Property Developer
Real Estate Investment Manager
Risk Assessment Officer
Corporate Real Estate Manager
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