For properties that do not comply with local zoning, the appraiser must provide at least two (2) comparable sales that have the same non-compliant zoning and land use. Also noted, Lenders may follow.
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For those times when you just need to "know what it’s worth", the private appraisal report is perfect. As the name implies, they are intended for private use, yet they contain all the information and detail you would find in a full "mortgage appraisal".
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10 Things You Need to Know About Appraisals Posted on May 19, 2015 by MortgageGirl.ca 29 Comments Appraisals are a valuable part of the real estate transaction and they are different than a market valuation provided by a real estate professional.
"Appraisal fee" includes only the fee associated with the first appraisal on the loan transaction and does not include any ancillary appraisal fees that may be charged in connection with the loan transaction (e.g., second appraisal fee, appraisal re-inspection fee, appraisal recertification fee, etc.).
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