REPORT TYPES
Non-Residential ( includes Commercial, Industrial, Non-single family residential, and Institutional) – completed on a Short Narrative Report and Narrative Report format.
- Short Narrative Reports are typically between 40 and 60 pages, plus addenda.
- Narrative Reports are typically 60+ pages, plus addenda..
Residential (primarily single family dwellings) – Summary Appraisal Report
- Summary Appraisal Report is typically completed on a standardized Form Report with additional commentary.
Date of Valuation:
- Current – as of the Date of Inspection (most reports fall into this category.)
- Prospective – effective date of the appraisal being after the Date of Inspection. This Report maybe required for proposed: developments, change of use and envisioned official plan or zoning changes. The appraiser's assumptions will be crucial in evaluating the conclusions of this estimate of value.
- Retrospective – the effective date of the appraisal being prior to the Date of Inspection. These retrospective valuations usually involve legal matters, such as divorce, capital gains, and estate issues.
Non-Residential ( includes Commercial, Industrial, Non-single family residential, and Institutional) – completed on a Short Narrative Report and Narrative Report format.
- Short Narrative Reports are typically between 40 and 60 pages, plus addenda.
- Narrative Reports are typically 60+ pages, plus addenda..
Residential (primarily single family dwellings) – Summary Appraisal Report
- Summary Appraisal Report is typically completed on a standardized Form Report with additional commentary.
Date of Valuation:
- Current – as of the Date of Inspection (most reports fall into this category.)
- Prospective – effective date of the appraisal being after the Date of Inspection. This Report maybe required for proposed: developments, change of use and envisioned official plan or zoning changes. The appraiser's assumptions will be crucial in evaluating the conclusions of this estimate of value.
- Retrospective – the effective date of the appraisal being prior to the Date of Inspection. These retrospective valuations usually involve legal matters, such as divorce, capital gains, and estate issues.
REPORT PURPOSES
Financing – These Appraisal Reports are completed to assist the Lender in estimating the security of their loans.
Estate Issues – These Appraisal Reports are usually completed to determine the value of a deceased person’s real property, in order to satisfy government requirements. Typically these Appraisal Reports are retrospective in nature.
Taxation – A valuation of a property may be needed for income tax purposes (such as determining capital gains) or for property assessment purposes.
Divorce – Typically these appraisals are done to determine the value of the matrimonial home at the time of separation.
REPORT COMPLETION
Single Family Residential Summary Appraisal Reports - Typically, 1-3 business days.
Short Narrative Appraisal Report/Narrative Appraisal Report - Typically, 3-8 business days.
Financing – These Appraisal Reports are completed to assist the Lender in estimating the security of their loans.
Estate Issues – These Appraisal Reports are usually completed to determine the value of a deceased person’s real property, in order to satisfy government requirements. Typically these Appraisal Reports are retrospective in nature.
Taxation – A valuation of a property may be needed for income tax purposes (such as determining capital gains) or for property assessment purposes.
Divorce – Typically these appraisals are done to determine the value of the matrimonial home at the time of separation.
REPORT COMPLETION
Single Family Residential Summary Appraisal Reports - Typically, 1-3 business days.
Short Narrative Appraisal Report/Narrative Appraisal Report - Typically, 3-8 business days.