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.
Our experts provide Property Appraisals for various property types:
The Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) refers to types of Appraisal Reports including: A Short Narrative Appraisal Report, and a Form Appraisal Report. The Short Narrative Appraisal Report is defined as a comprehensive and detailed appraisal report. The Form Appraisal Report is a standardized format combining check-off boxes and narrative comments.
Our clients require a Short 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.
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
If you require a basic Opinion of Value Report for your personal decision making, refer to brokering site www.tracyhammer.ca.