The purpose of an appraisal is to establish an appraiser’s formal opinion of property value for a service fee, to be relied on by the intended parties for a specific purpose. An appraisal involves researching appropriate market areas and analyzing data which is relevant to the subject property. The appraiser’s familiarity, preparation and professional judgment on the investigated information contributes to a final estimate of value.
An appraisal is required for various situations including: purchasing, re-financing or selling a property, estate planning, marital arrangements and agreements, or Assessment appeals, etc. An appraisal may be relied on by lenders (banks), lawyers, accountants, corporations, courts, tax officials, realtor’s, property managers, insurance brokers and underwriters as well as any other professional who requires an impartial and independent opinion.
The firm subscribes to daily market information provided by the Victoria and Vancouver Island Real Estate Boards. Additionally, we maintain on-line access to all Land Titles Offices in the Province and subscribe to assessment and sales data through the B.C. Assessment Authority.
All reports are prepared in conformity with the Canadian Uniform Standards of Professional Appraisal Practice. All appraisers on staff are members of the Appraisal Institute of Canada and subscribe to the Code of Professional Ethics and the Standards of Professional Practice for members of the Institute.
The firm has an established reputation for providing Real Estate Appraisal and Consulting services for purposes such as:
- Existing Self Storage Properties
- Proposed Self Storage Properties
- Highest & Best Use Land Studies
- Feasibility Studies
- Development Projects
- Park/Conservation Areas
- Industrial (warehouse, manufacturing, mills)
An Appraisal Report will include the following:
- Estimate of value
- Effective date of the appraisal (current, retrospective or prospective)
- Certification and signature
- Purpose of the appraisal
- Scope of work
- Qualifying conditions
- Description of the neighbourhood
- An identification of the property and its ownership
- An analysis and interpretation of the data and the assumptions made
- The processing of the data of one or more of the three approaches to value
- All supporting material such as maps, plans and photography