appraisal is an opinion of market value provided by a trained accredited
professional. There are many reasons why you may need a professional
appraisal of a property. Bank financing is a common situation that will
require a current market value appraisal. Litigation involving a variety of
issues from divorce to land compensation claims will also require a market
value appraisal, as at a specific date.
is essential that a professional appraiser arrive at, and communicate his or
her analyses, opinions, and valuation advice in a manner that will be
understood by the client and will not be misleading in any way. Our
appraisal reports are well documented valuations, prepared in compliance
with the Canadian Uniform Standards of Professional Appraisal Practice,
The Standards. The standards set by the Appraisal Institute of Canada
reflect the current requirements and reporting standards of the appraisal
profession in Canada.
Our professional fees range from $350 to $600 for single-family dwelling
residential appraisals (less for bank financing on form reports).
Typically, relatively straight forward commercial, multi-family or
industrial property valuations will carry a fee ranging from $2,000 to
$3,500, plus disbursements and GST. The detail and comprehensiveness of our
work is dependent upon the user of the report (bank, lawyer, accountant, or
real estate broker), as well as our mandate to provide a properly documented
valuation analysis as dictated by our professional associations Code of
Ethics and Standards of Professional Practice. Consulting services and
court appearances are billed at an hourly rate.
The Types of Reports We Provide
These services include reports other than value estimates such as: land
utilization or highest and best use analyses, marketability studies,
feasibility or investment analyses, and other research driven studies.
These reports are tailored to the needs of a particular client and are based
on an hourly rate, agreed upon in advance.
Narrative Appraisal Report
This report provides a full and comprehensive level of detail in the
presentation of information pertaining to the subject property, and the data
relied upon in the valuation. The ultimate level of comprehensiveness can
vary to some degree, depending on the needs of the client and the function
of the report. This report may also involve some extraordinary limiting
conditions or arrive at a value that is other than market value (i.e. an
Short Narrative Appraisal Report
This report provides a minimal presentation of information pertaining to the
subject and the data used to arrive at an opinion of value. The report may
be limited to the client only and may consider anyone else using the report
as an unintended user, thereby denying liability to any third party. The
format is often used in low-ratio lending situations.
Most residential appraisal assignments being used for mortgage financing
require the completion of a standard form report. The forms we use in such
instances are sanctioned and developed by the Appraisal Institute of Canada.
critical study of a report prepared by another appraiser. This report may
or may not involve the preparation of our own valuation. We will comment on
the opinion offered in the report being reviewed, and will discuss whether
it meets the standards set by the Appraisal Institute of Canada .
update involves referencing our original report, usually prepared by the
same author, and the inclusion of new market information or data
pertaining to the subject property that will result in a
updated opinion of
value. In cases where the report is older than 12 months, a new appraisal
may be required in order to meet the standards set by the Institute and our
Advice and Expert Testimony
This work includes tax counselling, assessment appeals or reviews, zoning
advice, appearance as an expert witness in arbitration hearings,
expropriation and litigation. These services are often related to an
appraisal previously completed and are based on an hourly rate previously
agreed upon prior to undertaking the assignment.
Purpose and Function of Our Services
Here are just a few of the reasons our clients request our professional
To obtain the current value of a property you wish to buy, sell,
Required as part of an application for a
Feasibility studies - completion value
of a development.
Preparing financial statements - capital gains
taxation & estate planning
Appeals and reviews ofproperty
Expert testimony in negotiation,
arbitration or litigation.
Establishing compensation in cases of
Ensuring adequate insurance coverage
- verifying damage claims
Retail Real Estate
Collingwood Appraisals Ltd. appraise all types of retail properties
throughout British Columbia, with a focus in the Greater Vancouver and Lower
Mainland area. Retail properties which we have recently appraised include
everything from small single-user retail stores to large neighbourhood
shopping centres and regional centres. Reports on retail commercial real
estate generally involve a Narrative Report format, but can involve a
shorter reporting format under certain circumstances. We also provide
appraisal and consulting services relating to hotels, apartment buildings,
office buildings, institutions, vacant land, and other commercial investment
Collingwood Appraisals Ltd. appraise industrial properties throughout
British Columbia. Recent work ranges from small strata-titled warehouse
buildings to large warehouse and manufacturing complexes. We provide a
range of appraisal services for industrial property, from short narrative
reports to detailed reports and market studies. Strata industrial
warehouses are usually valued using a concise short narrative reporting
style that most adequately meets the needs of the client. Large industrial
complexes, either single or multi-tenant designed, are valued using a
Narrative Report format, unless other arrangements are made.
Collingwood Appraisals Ltd. appraise all types of residential property
throughout the Greater Vancouver and Lower Mainland areas. We appraise
single-family houses, multi-family complexes (apartment buildings), as well
as condominiums. Our service is time sensitive, accurate and reliable.