Understanding the Appraiser's Client Relationship

Appraisers operate on a confidential basis with their clients, maintaining a fiduciary duty akin to professionals like lawyers and accountants.

Under the AIC's Canadian Uniform Standards of Professional Appraisal Practice, any discussion or disclosure of information from an appraisal report requires the written consent of the appraiser's client.

In instances where a report is prepared for mortgage lending purposes, the homeowner often bears the appraisal fee, while the lending institution, the appraiser's client, utilizes the report to make lending decisions related to the property and provides specific instructions to the appraiser regarding the report completion.

AIC members must adhere to the AIC's standards of professional practice (CUSPAP), which necessitates maintaining the confidential nature of the client relationship. The AIC member must obtain written authorization from the lender, their client, to release the report to any third party, including the individual who commissioned the report. Only the AIC member's client and any intended user identified in the report are authorized to access and rely on the report. Since the AIC member authored the report, consent for release must also be obtained from the AIC member.

The homeowner is the client of the lending institution. It is recommended to inquire with your lender about their policies and practices concerning payment for the appraisal and report access, irrespective of the loan's approval status. This is a business decision made by your lender/mortgage broker, and it's important to note that an AIC appraiser would not have knowledge of this information or any arrangements between you and your lender – their client.