Gateway Valuations Canada

Appraisers Know

AIC-designated real estate appraisers are highly-trained and qualified property valuation professionals. They will provide you with an impartial written estimate or opinion of the value of any property you might be considering purchasing or selling a home, a recreational property, a farm, or an investment property. Their appraisals are based on a recognized valuation process that considers a range of factors including the size, condition and location of the property, recent sale values of similar properties, market conditions, and more.

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Accounting

Municipal Financing

Why Hire an Appraiser?

Buying or selling property is typically the biggest financial decisions any of us make. Knowing the real value simply makes sense. An appraisal from a designated appraiser may be needed to:

Ensure you’re not paying more than a property is actually worth. If you’re making an offer on a property, always include this clause in your Purchase Agreement: “Subject to an appraisal equal to or exceeding the agreed offer.”
Obtain a qualified opinion of value for mortgage or lending purposes.
Provide investors with adequate information for making investment decisions.
Provide expert opinions of the value of real property as a basis of compensation when a property is being expropriated by government.
Provide expert opinions of the value of real property in legal disputes and settlements.

appraiser inspecting inside a brick walled building

Valuations are a way to give you peace of mind about the liability of any property.

TIPS TO HIRING A REAL ESTATE APPRAISER

Ask the appraiser for their professional designation. Be sure the appraiser is a member of strong professional association such as the Appraisal Institute of Canada.
Ask the professional appraiser about his/her qualifications; ensure the AIC member holds either the AACI (Accredited Appraiser Canadian Institute) or CRA (Canadian Residential Appraiser) designation or is an AIC Candidate Member.
Ask the professional appraiser about his/her competence, experience and expertise in the valuation of your type of property.
Ask the professional appraiser how much they will charge for appraising your property and what the fee includes.
Ask for and verify references.

What to expect during a Property Inspection

An inspection is just one of the many tasks performed by an appraiser. Appraisers observe the components and characteristics of the subject property that will influence value in the marketplace.1 The appraiser’s inspection takes into account a number of elements including:

• the physical characteristics of the dwelling and any outbuilding;
• interior/exterior finishes and systems (i.e. heating and cooling);
• the quality of the improvements; and
• any deficiencies or required repairs.

In addition to understanding the dynamics of the real estate market, AIC-designated appraisers also have construction knowledge, which is fundamental to their training. Members may also rely on the expertise of industry professionals where building characteristics are more complex.

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Who is a Qualified Appraiser?

The Appraisal Institute of Canada designates appraisers after years of training and experience in the field. There are two designations:

CRA P. App; and AACI, P. App. CRA P. App. – Canadian Residential Appraiser Appraisers holding this designation are qualified to appraise and value individual undeveloped resident dwelling sites and dwellings containing not more than four self-contained family housing units.

AACI, P. App.- Accredited Appraiser Canadian Institute, Professional Appraiser Appraisers holding this designation are qualified to appraise and value a wide range of residential, commercial and industrial real property.

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