Appraisal Process

The Appraisal process and procedures vary according to the type of property, the requirements of the client, and applicable methodology for each appraisal assignment. However, in general the preparation of an appraisal report encompasses the necessary research and analysis in accordance with the Canadian Uniform Standards of Professional Appraisal Practice, which may involve the following:

  • Identification of the subject property and intended use of the appraisal report
  • Determination of the type of appraisal report (Current, Retrospective, Prospective, and Up-Date) and its effective date
  • Inspection of the subject property and surrounding area
  • Review and analysis of data pertaining to the subject property. This may include the rent roll, operating statements, Tax Bill, review of the leases in place, floor plan, etc
  • Analysis of land use controls pertaining to the subject property
  • Analysis of the subject property's general/specific location and influencing characteristic of the subject's location on its market value
  • Analysis of market condition and general/specific economy forces on the value of the subject property
  • An in-depth discussion, determination and statement of Highest and Best Use
  • A discussion of the appraisal methodologies and procedures employed in arriving at indications of value
  • Search for, and analyses of, sales and listings of "index" or "comparable" properties that might reasonably be used to indicate a value for the subject property
  • Compilation and analysis of the data and reconciliation thereof into an estimate of market value as at the effective date of the appraisal

After completion of the report we will provide an electronic copy of the report to our clients. However, we can provide a hard copy of the report if required.