The benefit and importance of engaging Advanced Appraisals to complete a Residential Home Evaluation or Consultation.

In simple words, a home appraisal is a professional opinion of a home’s current or retrospective Market Value, and is completed by a qualified, certified Residential Appraiser

Home appraisals are often required in numerous different situations, some of the most common situations are:

Purchase Transactions (Buying a property)

  • When you plan on investing in a property, be sure to engage Advanced Appraisals to complete an Evaluation on the property you are interested in purchasing.
  • Appraisal Reports produced by Advanced Appraisals will give you an honest, unbiased, independent opinion of Market Value (Appraisal Report) for your property. This will help you make the right decision, weather or not to purchase or invest in the property in question.
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  • When you plan on selling a property, be sure to engage Advanced Appraisals to determine the best listing price of your property.
  • Appraisal Reports produced by Advanced Appraisals will give you an honest, unbiased, independent opinion of Market Value (Appraisal Report) for your property.
  • Contact Us Today for a FREE CONSULTATION!

Re-Finance Transaction
Second Mortgages

  • Legal matters are never easy and that’s why Advanced Appraisals help you through the process of Assessing your property.
  • Engage Advanced Appraisals to provide an expert opinion on the value of your property.
  • Reasons to hire Advanced Appraisals, in which market value of a property has an impact on legal settlements.
  • Matrimonial division of property or assets
  • Shareholder disputes
  • Be sure to engage Advanced Appraisals to get a qualified, expert and unbiased opinion of Market Value to help you through your litigation process. Contact Us Today!
In many scenarios, you may be asked to prove your net-worth, and the only way to do that, is to present an accredited Appraisal Report, produced by Advanced Appraisal. Be sure to engage us today!
  • Renovation can be costly, be sure to get a professional opinion on what renovations are best suited for your property, based on your location, market area and may other factors.
  • Advanced Appraisals can help you determine what renovations are suitable for your type of dwelling, based on our wealth of knowledge in your area. This will help ensure that you not spending too little or too much on your renovations. Contact Us Today!
Engage Advanced Appraisals to get an independent opinion of Market Value for your property, to help determine your Estate Planning or Settlements. Our Accredited Appraisers will provide you with a precise, professional and unbiased Appraisal Report to help you plan your estate or to fairly distribute your assets. Contact Us Today!
Engage Advanced Appraisals to give you a peace of mind that you are paying a fair amount of tax on a disposed property. Contact Us Today!
  • Engage Advanced Appraisals to help dispute your property tax assessment.
  • Our Appraisers will help you prepare an Appraisal of your property, with supported data to make your argument to the assessment authority. Contact Us Today!

At Advanced Appraisal, we appraiser all Residential Properties

  • Detached Homes
  • Link Homes
  • Semi-Detached Homes
  • Town Houses
  • Stacked Town-House
  • Condominiums

Vacant Land
Acreage Land

Advanced Appraisals has a huge presence in the Real-Estate Appraisal Industry

  • All major banks
  • All major trust funds
  • Mortgage brokers
  • Private lenders
  • Professionals
  • Real Estate Agents / Brokerages / Lawyers
  • Lawyers / Attorneys
  • Accountants
  • Financial planners
  • Home owners
  • Investors

Getting an independent opinion is always valuable to both home owner and investors
Many property owners engage Advanced Appraisals:

  • To establish net-worth (for various different reasons).
  • To understand what your home could potentially sell for in an open market.
  • To establish a value property tax assessment or other taxes
  • To establish a value for insurance claims
  • To establish a value for Expropriation purposes
  • For Estate Settlements
  • For Litigation purposes
  • Separation of Assets
  • Family Law, Divorce

Investors

  • To protect one’s interest (money)
  • To get an opinion on an investment
  • Absolutely! All our Candidate and Designated Appraisers have gone through numerous hours of ‘on the job training’ and very rigid educational requirements.
  • Our Appraisers have the skills and knowledge in gathering and evaluating facts.
  • All our Appraisers are members, in good standing with the Appraisal Institute of Canada (AIC) or the Canadian National Association of Real Estate Appraisers (CNAREA)
  • Typically, an appraiser will perform an inspection of both the interior and exterior improvements, including the physical measurement of your dwelling.
  • During the inspection, our Appraisers will take notes and pictures of your home; including the main rooms, bedrooms, bathrooms, basement, utilities area, electrical area, etc.
  • Appraisal Inspections usually take 20-30 minutes, depending on the size of your home, some inspections may take longer.
  • Make sure the house is neat and tidy.
  • Know the basics of your property;
  • Lot Size
  • How big is the house?
  • When were renovations completed, if any?
  • How old is the roof? windows? furnace? Hot water tank, etc.
  • Avoid doing your Appraisal Inspection at time of renovations (unless it’s a must: for re-finance purposes)

Determining a property’s value consists of three (3) stages.

Physical inspection of the subject property, interior and exterior improvements What to expect when an Appraiser visits my house?
  • This is the one of the most important and time-consuming stage of an Appraisal Assignment, when developing an opinion of Market Value of a property.
  • Comparative Market Analysis: During this stage the Appraiser is completing a comprehensive research on;
  • Your General and Immediate Neighborhood
  • Recent Market and Pricing Trends
  • Internal / External Influences on Home Sale Prices
  • General and Immediate Neighborhood Amenities
  • Characteristic of currently listed and sold properties
  • In-depth analysis of comparable sales
  • Sales of properties in your Street
  • Recent Market and Pricing Trends
  • Internal / External Influences on Home Sale Prices
  • Characteristic of currently listed and sold properties
  • In-depth analysis of comparable sales
  • Sales of properties on your Adjacent Streets
  • Recent Market and Pricing Trends
  • Internal / External Influences on Home Sale Prices
  • Characteristic of currently listed and sold properties
  • In-depth analysis of comparable sales
  • This is the one of the most important and time-consuming stage of an Appraisal Assignment, when developing an opinion of Market Value of a property.
  • Once the appraiser completes their research (Stage 2), they begin to Establish an opinion of Market Value for the Subject property
  • During this process, the Appraiser reports on the following:
  • Client and Property Details;
  • Neighborhood analysis; market trends, amenities, etc;
  • Site Description; Available services, easements, etc;
  • Description of Improvements (Interior and Exterior): Details of the subject property and improvements (gathered through physical inspection and reliable sources);
  • Approach to Value (how did the Appraiser arrive at the indicated value of your property)
  • The three approaches to value are: (Note: The appraiser may choose to omit any one or two of the approaches to value)
  • This is the most common approach to determine the market value of your property; as it demonstrates what a property could sell for in an open market.
  • Comparable sales analysis obtained from the local Real-Estate board or reliable third-party sources.
  • In this approach, the appraiser adapts to an adjustment method, in-line with the real-estate market and market trends and then applies it to the comparable sales (where necessary)
  • This approach to value is mostly used to determine reconstruction costs, and involves:
  • Land Value
  • Cost new and Depreciated cost of improvements.
  • This approach to value is mostly used for Rental/Investment properties
  • Involves intense research on determining Return on Investment (ROI), Capitalization Rate (CAP Rates), etc.
  • Once the Approach to value is complete, the Appraiser provides a summary on the most reliable approach to value and writes a conclusion.
  • During this entire process, the Appraiser is establishing a credible, well supported Appraisal Report.
  • Our Appraisers are experts at evaluating Residential Properties and offer the following types of Residential Appraisal Services.
  • Many property owners, lenders, mortgage brokers and professionals engage Advanced Appraisals to complete:
  • Desktop Appraisals
  • Drive by Appraisals
  • Full Appraisals
  • Market Rent Estimates
  • A Desktop Appraisal Report is a report where an Appraiser does not visit your property and prepares a report based on data, tools and market research to establish an opinion of market value for your property.
  • This type of report is usually ordered by lenders, for clients requesting a small amount of mortgage or line of credit.
  • In this report, a range of values is provided.
  • For example: $500,000 – $550,000
  • A Drive by Appraisal report is report where the Appraiser only drives by your property and then prepares a report based on data, tools and market research to establish an opinion of market value for your property.
  • This type of report is usually ordered by lenders, for clients requesting a small amount of mortgage or line of credit.
  • In this report, a range of values is provided
  • For example: $500,000 – $550,000
  • A Market Rent Estimate is a form of Appraisal report where the Appraiser establishes an opinion of Market Rent.
  • This type of report is usually ordered by lenders and/or investors, to determine the Market Rent Estimate for a specific property.
  • A range of values is provided in this type of Appraisal Report
  • For example: $2,200 – $2,500 / month (Lease)
  • Our appraisers use a variety of different tools to form an opinion of Market Value. Some of the most common tools are listed below
  • Sales market data from the Local Real-Estate Boards.
  • Our Appraisers are experts in their local areas and understand how to analyze Real Estate Market data
  • Our Appraisers have spent a significant amount of time completing research and understanding the current market conditions and trends
  • Data from the Municipal Property Assessment Corporation (MPAC)
  • Internal files, establishing market data, land values, etc
  • Measuring Tools (laser or tape)
  • Sketching software
  • Always keep in mind, when an Appraiser completes an appraisal of your property, he or she is establishing an “opinion” of market value. A lot of work and effort is put into preparing an Appraisal Report.
  • However, the “Appraised Value” should provide you with a very clear indication of an Estimated Market Value of your property (this value may sometime vary 5%-10%, depending on the value of your property)
  • That being said, if you disagree with the evaluation, you can always engage Advanced Appraisals to get an independent appraisal by our Certified Appraisers. you may Contact Us for further details