Appraiser List

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RESCO APPROVED APPRAISERS LIST

ONTARIO

 

Barrie

Danford Appraisals 705-734-2895 www.danfordappraisals.ca
Allan Roy (CRA) 705-352-3552
Top Class Appraisal 416-569-9792 www.topclassappraisal.ca
 

Bolton

Cross-Town Appraisals 416-652-3456 www.crosstownappraisal.com
Home Value Inc. 416-871-9224 www.hviappraisal.ca
 

Brampton

Cross-Town Appraisals 416-652-3456 www.crosstownappraisal.com
Home Value Inc. 416-871-9224 www.hviappraisal.ca
Top Class Appraisal 416-569-9792 www.topclassappraisal.ca
 

Brantford

Berk Appraisal Services 289-238-8621 www.berkappraisals.ca
Musso Appraisals and Consulting 519-741-8700 www.mussoappraisals.com
 

Burlington

Schinkel Real Estate & Appraisals Inc. 905-387-0100 www.schinkelappraisals.ca
Walker & Walker Appraisal Ltd. 905-639-0235
Berk Appraisal 289-238-8621 www.berkappraisals.ca
 

Cambridge

Musso Appraisals and Consulting 519-741-8700 www.mussoappraisals.com
R.W. Dyer Realty Inc. 519-653-5353 www.dyerrealty.ca
 

Guelph/Kitchener/Waterloo

Musso Appraisals and Consulting 519-741-8700 www.mussoappraisals.com
S.W.Irvine & Associates (AACI) 519-763-5956 www.swiappraisals.com
 

Hamilton

Musso Appraisals and Consulting 519-741-8700 www.mussoappraisals.com
Schinkel Real Estate & Appraisals Inc. 905-387-0100 www.schinkelappraisals.ca
Walker & Walker Appraisal Ltd. 905-639-0235
 

London

Musso Appraisals and Consulting 519-741-8700 www.mussoappraisals.com
RJ Lyons Real Estate Appraisal Services Inc. 519-672-0485 www.rjlyons.ca
 

Milton

Cross-Town Appraisals 416-652-3456 www.crosstownappraisal.com
Home Value Inc. 416-871-9224 www.hviappraisal.ca
Metrowide Appraisal 905-479-4400 www.metrowideappraisal.com
 

Mississauga

Cross-Town Appraisals 416-652-3456 www.crosstownappraisal.com
Home Value Inc. 416-871-9224 www.hviappraisal.ca
Top Class Appraisal 416-569-9792 www.topclassappraisal.ca
 

Newmarket

Cross-Town Appraisals 416-652-3456 www.crosstownappraisal.com
Home Value Inc. 416-871-9224 www.hviappraisal.ca
 

Oakville

Cross-Town Appraisals 416-652-3456 www.crosstownappraisal.com
Home Value Inc. 416-871-9224 www.hviappraisal.ca
Top Class Appraisal 416-569-9792 www.topclassappraisal.ca
 

Toronto

Cross-Town Appraisals 416-652-3456 www.crosstownappraisal.com
Home Value Inc. 416-871-9224 www.hviappraisal.ca
Metrowide Appraisal 905-479-4400 www.metrowideappraisal.com
Top Class Appraisal 416-569-9792 www.topclassappraisal.ca
 

Woodstock

Otto & Company Residential Real Estate Appraisals 519-964-4663 www.ottoandcompany.ca
 

MANITOBA

 

Winnipeg

Rixon Appraisal Services 204-888-5566

APPRAISAL REQUIREMENTS

The following applies to every residential appraisal submitted to RESCO Mortgage Investment Corporation and must be adhered to.

 

Appraiser(s):

Appraisers must have one of the following designations:

  • Canadian National Association of Real Estate Appraisers (CNAREA): DAR
  • Appraisal Institute of Canada (AIC): AACI or CRA

 

General:

All appraisals must be completed in accordance with the standard acceptable practices of the Appraisal Institute of Canada or Canadian National Association of Real Estate Appraisers.

  • Appraisal reports are to be sent by the appraiser directly to the RESCO Mortgage Investment Corporation. (deals@rescomic.ca)
  • Client is to be RESCO Mortgage Investment Corporation and for First or Secondary mortgage financing purposes.
  • All rooms in the home must be viewed and confirmation is to be noted in the appraisal report.
  • Confirm there are no adverse external factors which may affect the marketability of the property.
  • The cost approach is required on all reports, except for condominium/strata properties.
  • Secondary units in the subject property (if any): Confirm they are self-contained and comply with municipal standards. Include economic rents.

 

Comparables:

  • Use a minimum of 3 comparable sales from the immediate area.
  • Should reflect arms-length transactions and must have closed within 90 days of the effective date of the appraisal.
  • Must have closed and be available from MLS: Provide MLS photos & listing, along with a location map of the comps.
  • Clearly explain subjective adjustment(s) in the report (e.g. views, appeal, condition, location ratings).
  • Provide the listing price and the length of time to sell for each of the comparable sales.
  • Include supporting details if the net adjustments exceed 10% of the original sale price of the comparable.

 

Photographs:

The appraisal must contain current, clear and well-framed colour photographs of the following:

  • Front and rear of subject property, along with a street scene. Include photos of outbuildings, if any.
  • Interior photos of all rooms (including those in the basement) to be provided.
  • Examples of physical deterioration (if present) and recent updates (if any).

 

Condominiums:

  • If the building is subject to any special assessment, details should be included in the comments.

 

Special Instructions:

  • If the appraiser was denied access to any part of the property, they must make note of it in the report.
  • New construction – The property should be 100% complete when indicating the completed value.
  • Structural Integrity (Foundation cracks, water seepage/staining, etc.): If evident, additional comments and pictures are required.
  • Deferred Maintenance if known, please provide estimated scope of work. Pictures are required.
  • Appraiser to make note if any bedroom doors had/have dead bolts (ie. any signs of property being used as a rooming house).

 

Disclosure:

  • Incomplete appraisals will not be accepted.
  • Any form of confirmable misrepresentation will lead to termination of approved status, the filing of a REDX incident report and reporting to the appropriate association (AIC and/or CNAREA).