About Appraisers and Appraisals

• In Canada, Appraisers become members of Appraisal Institute after completing rigid coursework and internship hours that familiarize them with their real estate markets.
• The lender might use an appraiser on its staff, or contract with an independent appraiser.
• The appraiser should be an objective third party, someone who has no financial or other connection to any person involved in the transaction.
• The property being appraised is called the subject property.
• In most cases, You will probably pay for the appraisal when you apply for your loan.