We provide commercial appraisal services for various property types such as retail, industrial, office, land (residential or commercial), multi-family residential and all other real estate assets. The commercial appraisals are most commonly reported in a short narrative format, which requires more time to complete than a residential appraisal.
We provide residential appraisal services for the valuation of single family dwellings in various formats such as detached, semi-detached, townhouse, or condominium units. The residential appraisals are most commonly reported using a form appraisal report, as this type of reporting is the most cost effective, has the lowest turn-around time, and provides a reasonably sufficient amount of information to the user of the report. Alternatively, we can provide a short narrative appraisal report based on the requirements of the client.
Changes in life circumstances or investment opportunities may prompt Canadians to explore alternative financing options, such as refinancing their property to increase cash flow or reduce payments following a mortgage deferral. An appraisal can provide a valuable assessment of the equity in your property, enabling you to make informed decisions about leveraging the value of your home or investment property.
When purchasing a home, the lender bases the approved mortgage amount on the appraised value of the property, not the purchase price. This means that the maximum amount of the mortgage loan will be determined by the appraised value of the home. If the purchase price exceeds the appraised value, the lender may not provide the full amount of the loan that you were expecting. It is advisable to collaborate with your lender to engage a designated appraiser to conduct an independent appraisal of the property you intend to purchase before signing the purchase agreement.
If you disagree with the value of your property that has been used to determine your property taxes, engaging a designated appraiser can be beneficial in most provinces. A designated appraiser can prepare an independent appraisal of your property and provide you with expert support to help you make your case to the assessment authority. This can include providing documentation of the property’s value based on market research and professional analysis. By working with a designated appraiser, you can ensure that you receive a fair and accurate valuation of your property, which can help you save money on property taxes in the long term.
If you plan to bequeath your real estate assets to your children, it is advisable to obtain an independent valuation to ensure that the asset is distributed fairly among your family members. Similarly, if you intend to leave your estate to a charitable organization, the market value of your property will be necessary. Obtaining an accurate and reliable appraisal will provide valuable information to help you make informed decisions about the distribution of your estate and ensure that your wishes are carried out as you intended.
If you are facing the difficult decision to file for bankruptcy, it is important to engage a designated appraiser to provide a fair market value for your property. Your property is likely one of your most significant assets and its valuation can have a significant impact on the bankruptcy proceedings. An independent appraisal by a designated appraiser can provide a fair and accurate valuation of your property, taking into account its condition, location, and other relevant factors. This valuation can be used to help determine the amount of equity in your property and the potential value that creditors could realize in a sale. Additionally, a designated appraiser can provide expert testimony in bankruptcy proceedings, helping to ensure that the value of your property is accurately reflected in the proceedings. By working with a designated appraiser in this difficult time, you can ensure that your property is valued fairly and that you are able to navigate the bankruptcy process as smoothly as possible.
If you are involved in litigation that involves property, it can be beneficial to engage a designated appraiser to provide an expert opinion on the value of the property. This can be particularly relevant in situations such as matrimonial division of property or assets, shareholder disputes, or where the market value of the property has an impact on the legal settlement. Appraisers with AIC-designated status are recognized as experts within judicial and quasi-judicial settings, and their professional opinions can carry significant weight in legal proceedings. Obtaining an appraisal from a designated appraiser can help ensure that you receive fair and accurate valuations of your property and can contribute to a successful outcome in your legal case.
Engaging a designated appraiser can provide peace of mind when reporting capital gains for disposed property, as it ensures that the reported gains are based on a fair market value. By obtaining an independent appraisal of the property, you can have confidence that you are paying a fair amount of tax on the disposed property. A designated appraiser can use their expertise to provide an accurate valuation of the property based on a thorough market analysis, which can be used to support your tax reporting. This can be especially important in situations where the property has appreciated significantly in value or where the disposition is subject to complex tax regulations. By working with a designated appraiser, you can ensure that you are meeting your tax obligations while minimizing the risk of overpaying taxes.
If you are looking to plan for your retirement and determine your current wealth, engaging a designated appraiser can be beneficial. An appraiser can provide an accurate valuation of your real estate assets, which can help you understand your current net worth and make informed decisions about your retirement planning. Additionally, a designated appraiser can offer consulting advice to help you enhance your financial portfolio with good real estate investments, providing further opportunities to grow your wealth over time.
A legal professional may engage an AIC-designated member during various legal proceedings, including but not limited to matrimonial disputes, bankruptcy proceedings, tax fraud investigations, expropriation cases, property tax appeals, foreclosure proceedings, partner disputes, and proceeds of crime cases. In such cases, an AIC-designated appraiser can provide an expert opinion on the value of a property, which can be used as evidence in court or to support legal arguments.
Engaging a designated appraiser to conduct comprehensive market research and provide an independent opinion of value can be a valuable way to determine the best listing price for your property. By doing so, you can gain a more accurate and unbiased understanding of your property’s value and make more informed decisions when setting your listing price.
