Private and homeowner appraisals

Appraisals for homeowners and private parties

Homeowners commission appraisals for a number of reasons that have nothing to do with a mortgage application. In each case the result is an independent, documented opinion of market value that can be relied on and shown to another party.

Assignment types

• Pre-listing: an independent opinion of market value before a property is listed for sale
• Pre-purchase: an opinion of value for a buyer considering an offer
• Property tax appeal: valuation evidence to support an assessment review
• Insurance: valuation support in connection with coverage or a claim
• Private sale: an independent value where a property is transferring between parties without a listing
• General market value opinion: where a documented value is needed for planning or record purposes

An appraisal is not a home inspection

An appraisal reports an opinion of market value. It records the condition of the property as it bears on value, but it is not a home inspection and does not test systems, open finished areas, or report on the adequacy of structural, mechanical, electrical, or plumbing components. A home inspection carried out by a qualified home inspector serves that purpose.

What the homeowner receives

A written appraisal report setting out the effective date of value, the scope of work, the property data relied on, the comparable sales analysed, the reasoning supporting the conclusion, and the appraiser’s certification and assumptions.

Fees and turnaround

Fees are quoted per assignment in Canadian dollars, based on the property, its location, the report format required, and the effective date of value. Turnaround averages 48 hours, with a delivery date confirmed at the time of the quote.