The Appraisal Industry

The Real Estate Valuation Services industry is a small but crucial part the real estate market.  Industry participants provide independent valuations of various types of real estate, which are then typically used for mortgage financing, corporate or legal purposes.  Real Estate asset value is heavily influenced by macro and micro economic factors.  Hammer Appraisal’s comprehensive data research and market analysis ensure reliable, accurate valuation reports.

Appraisal Services in Durham Region

Our experts provide Property Appraisals for various property types:

Industrial Valuations

Our industrial valuation expertise covers warehousing, manufacturing and logistic properties with extensive knowledge of both the landlord and owner occupier markets.

Office Valuations

Industry experts provide the valuation of all types and sizes of office buildings from premium grade through to suburban office parks and non-traditional conversion buildings.

Retail Valuations

We undertake valuations of all types of retail property, from strip malls and regional shopping centres through to freestanding buildings and retail condominium property markets

Mixed-Use Valuations

Typically a mix of light commercial and residential tenanted properties, our valuation expertise effectively combines various current market dynamics in a single property

MultiFamily Residential Valuations

As per client guidelines, properties comprising of greater than 4-residential suites require a commercial level appraisal valuation. Our knowledge extends to suburban apartment and townhouse developments

Vacant/Development Land Valuations

Our investigation skills in land use parameters allow compliant and accurate vacant land valuations to better understand your asset

The Report

The Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) refers to types of Appraisal Reports including: A Short (brief) Narrative Appraisal Report, a Full (comprehensive) Narrative Report and a Form Appraisal Report.  All Reports are CUSPAP compliant and meet AIC Standards.

It is important to note that a Full Narrative Appraisal Report is always required by Lending Institutions (Banks) for financing purposes.  It is a comprehensive and detailed valuation report that meets the Lender guidelines and required market data by the Underwriters.   

The Short (brief) Narrative Report consistently meets the AIC Standards, however is provided for non-financing and non-litigation work, primarily for personal decision making; similar to an Opinion of Value, yet more detailed and evidence supported opinion of value.  The Form Appraisal Report is a standardized format combining check-off boxes and basic narrative comments used for most residential properties. 

Our clients typically require a Narrative Report format.  The document is generally 50+ pages and can include up to three (3) accepted methods of valuation.  The selection of a relevant methodology depends upon the nature and characteristics of the real estate under consideration. Report Fees vary between $2,000 to $5,000. 

Opinion of Value

An Opinion of Value is different from an Appraisal Report  

This is a brief report, completed by a Real Estate Professional, that provides a value range based on current market sales as a refection of the local market.  Examples of purpose of an Opinion of Value Report are personal decision making considerations such as:

  • Relocating your Business
  • Selling your Asset
  • Leveraging your Equity
  • Estimating your Net Worth
  • Pre-purchasing and Pre-sale Consultation

Certified AIC Appraisers are unable to provide this brief report, as it does not comply with the Appraisal Institute of Canada certification guidelines, an Opinion of Value Report, is sometimes provided by a Real Estate Sales Person or Sales Broker.