6 October 2018
2018 Annual Convention
The Annual Convention will be held at the Georgian Bay Resort in Collingwood, Ontario Monday May 28th to Friday June 1st 2018
2018 Convention Schedule & Hotel Information
Convention Registration Form
18 September 2017
31 August 2017
The education schedule for all of 2018 is done . Please go to either the education page or the events calendar to view when and what courses are being offered in your area.
To reserve your spot, download the registration form, type the information in, save it, then email the form to HQ@cnarea.ca The payment will not be processed until closer to the course date, but we encourage you to register early to reserve your spot, as our courses fill quickly.
21 August 2017
We have had several conversations recently with various industry stakeholders and we would like to encourage you to consider the following:
BLENDED SITE ADJUSTMENTS: In recent conversations with the Bank of Montreal, BOM has stated that the blended adjustments for site value are no longer acceptable to them, and they are requesting that adjustments, and the comments associated with them address the specific components that contribute to the adjustment(s).
Please ensure that when completing appraisal assignments for this client, that the site adjustments and comments reflect their requirements.
TENANT OCCUPIED PROPERTIES: The question about the ownership rights being appraised, in tenant occupied properties, keeps coming up. If a property is tenant occupied, then the owner has surrendered part of their ownership rights, (the right to occupy) and therefore no longer has the full bundle of rights (Fee Simple). In such a case, the normal course of action is for the appraiser to consider the LEASED FEE interest of the property, and appraise it as such. This would typically require the use of tenant occupied comparable sales for consideration, etc. HOWEVER some clients (lenders such as BMO) require that the Fee Simple interest in a property be the basis of the appraisal assignment. In such cases, the appraiser is still to indicate that the property is Tenant Occupied, however the ownership rights being appraised are FEE SIMPLE. The appraiser simply needs to include a statement such as: “At the request of the client, the subject property is being valued considering the Fee Simple interest, and the Leased Fee interest in the property has not been addressed in this appraisal assignment.” See USPAP FAQ #217
21 August 2017
CERTIFIED APPRAISAL REVIEWER Course Update: We have revised the course for our Certified Appraisal Reviewer Designation. Please refer to the EDUCATION Tab for information on the course, and to register for the course.
21 August 2017
FIND AN APPRAISER: Some lenders, and AMC’s are having difficulty finding appraisers in certain market segments, and searches on the website are not producing results reflective of the areas of service of our members. Please log-in to your profile on the website, and update your coverage areas so that current and prospective clients are able to find you!