ESTATE SETTLEMENT APPRAISAL
Although it comes at a difficult time, property appraisal is an important part of estate settlement. These appraisals are also known as "estate appraisals" or "probate appraisals". Whether required as part of the estate administration tax calculation, or just to ensure a fair market value when one family member is planning to buy a share of the property from the other beneficiaries, an accurate appraisal is essential.
A formal appraisal report completed by a designated member of the Appraisal Institute of Canada (AIC) is typically the only type of valuation document accepted by government entities and the court system. Hiring Apex Appraisal will ensure a fair, unbiased valuation of your home. You will be provided with a detailed written report complete with a full description of the property and a clear explanation of the valuation analysis and conclusion.
When ordering an appraisal for estate settlement purposes, you will need to know if the value estimate required is a current market value estimate or a date of death value estimate (retrospective appraisal). In some cases, both values will be needed. Your legal representative should advise you of the appropriate valuation date(s). For retrospective appraisals, it is essential that the appraiser has access to detailed and accurate information about the condition of the property as of the retrospective date.
SERVICE TYPES AND TURNAROUND TIME
We provide detailed full form appraisals for estate settlement assignments. Full appraisals are more accurate and reliable than drive-by appraisals because a full inspection offers the appraiser a clear understanding of the true condition of the property. Appraisal reports are typically completed and emailed within two business days of the property inspection.
Our service area covers the suburban areas of the east GTA from Scarborough, Markham and Stouffville through the Durham Region (Pickering, Ajax, Whitby, Brooklin, Oshawa, Courtice, Bowmanville and Newcastle) and into Port Hope, Cobourg and Peterborough. Please feel free to contact us to see if we can provide service in your area.
WHAT IS THE BENEFIT OF HIRING APEX APPRAISAL?
When you hire Apex Appraisal, you get the expertise and experience of a qualified designated appraiser from the Appraisal Institute of Canada. A professional designated appraiser offers an unbiased opinion of value during what can often be an emotional process. By engaging a third-party valuation expert, you can be sure you have the knowledge required to make informed real estate decisions. Apex Appraisal is here to provide the information and professional documentation you need.
PROFESSIONAL APPRAISAL STANDARDS
Our appraisers are highly-trained and experienced professionals who adhere to the highest standards in the field of appraising. We are members of the Appraisal Institute of Canada (AIC), which is guided by a strict Code of Conduct and the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP).
Our membership in the Appraisal Institute of Canada (AIC) and adherence to CUSPAP ensures that your appraiser will:
Maintain the highest level of integrity and professionalism;
Engage in conduct that will instill confidence and protect the public interest;
Provide quality services within their areas of competence; and
Commit themselves to principles that reflect high standards of professionalism
Members who have achieved a designation with the AIC are widely respected and sought after by investors, federally and non-federally regulated financial institutions, the courts, all levels of government and the private sector. For many, an AIC designated appraiser is the only appraisal professional of choice. Contact Apex Appraisal today to see how we can help.