East York, Playter-Jackman, Danforth Village, The Beach
The Bluffs, The Hunt Club, Cliffcrest, Birchcliff
Rosedale-Moore Park, Chaplin Estates, Leaside, Bennington Heights
Davisville Village, Rathnelly, Cabbagetown, Corktown
Summerhill, Yorkville, The Annex, The Distillery District, Harbourfront
Little Italy, Liberty Village, Trinity-Bellwoods, Dufferin Grove
Beaconsfield, Roncesvalles, Regal Heights
The Junction, High Park, Swansea, Bloor West Village
~Residential Freehold and Condominium Properties Appraised~
Sample Appraisal Format
As a real estate Appraiser who has also been an active Realtor since 1979, I understand the ongoing and constantly changing dynamics of our local market and the fact that each individual property and location has a distinct set of characteristics and value considerations.
Unlike "free evaluations" commonly offered in real estate marketing material, my appraisals stand alone and are not part of a listing presentation.
"What is the difference between this appraisal and a 'bank' appraisal" ?
Bank appraisers may draft up to 6-10 reports per day! In some instances they simply drive-by the property or spend a mere 5-10 minutes inside.
I spend 30-45 minutes inspecting the average property and then schedule between 6-8 hours for the research and analysis of each original appraisal report. I do not use cut-and-paste comments. I do not re-cycle research.
Many "bank" appraisals are of properties which have "just sold". The appraiser has a disclosed sale price to reference.
My appraisal is based entirely upon historical research, market conditions, and features specific to the subject property. I have absolutely no appraisal relationships with the lender side. For my purposes that would be a conflict.
For the client who is seeking a carefully researched, clearly presented, unbiased appraisal
Inspection:The appraisal process begins with a careful on-site inspection of the subject property, requiring 30-45 minutes. At this time careful attention is paid to the structural elements and mechanical systems. Improvements and deficiencies are noted. A full "sense" of the property is acquired.
Research:In the research stage, market conditions in the general and local markets are considered. Specific attention is paid to housing trends in the GTA and then to the specific neighbourhood of the subject property. All available comparable property sales over the past 2 years, are carefully reviewed and short-listed to the most similar and most recent sales. As a member of TREB, I have legitimate full access to Toronto Real Estate Board listings, sales, and statistics as well as MPAC and Geowarehouse/Registry.
Adjustments: Once a grouping of the most comparable properties is identified, adjustments are applied for a wide range of factors: location, lot size, square footage, overall condition, improvements and deficiencies, mechanics, parking, landscaping etc. These adjustments are described and accounted for in the report.
Rationale:In some instances a longer narrative explanation of the appraisal process is required. This is an opportunity to discuss how some adjustments were approached and how conclusions were reached.
Conclusion:After the adjustments are calculated, and the general value range of the subject property is ascertained. Greatest weight is given to the comparable(s) requiring the least net and gross adjustments. After careful consideration and a "common sense" review, a final value is submitted to the client.
The Report:You will receive a fully descriptive appraisal report which includes selected comparables, a discussion of the adjustments, supporting documents, and photographs.Multiple copies are provided as required. I do not write the report on the typical American-based software program.
Delivery of Report:The report is carefully reviewed before being released to the client, within 5 business days following the inspection. A pdf version can be e-mailed immediately, followed by a bound hard copy report. All work is completely confidential.
Fees:The base fee for a typical single family home, duplex or condominium, for a single date, is $395.00 (Plus HST= $446.35)
(For each additional "effective date" please add $75.00 (You may want to know today's value as well as a value in the past for various reasons).
Payment for service is requested at the time of property inspection
The appraisal cannot be undertaken unless the complete objectivity of the appraiser is respected and maintained
Please do notmention other evaluations, opinions of value, offers to purchase, or anticipated value.
About Michael Kavluk
1978: Specialist’s Degree in English Literature Victoria College (U of T)
1979: Licensed Real Estate Sales Representative
1981: Licensed Real Estate Broker
1981-2005: President of Oxford Real Estate Ltd.
1985-1994: Lecturer: Introduction to Real Estate. Mortgage Financing (OREA)
1983-1989: Elected Director: Toronto Real Estate Board (Chair of Education, MLS, Ethics Appeals and By-Laws)
1995-Present: Certified Real Estate Appraiser (MVA)
2005-Present: Broker: Bosley Real Estate Ltd. (Founders Club Member)
About the MVA-Residential Designation
The Market Value Appraiser (MVA-Residential) designation is recognized by:
The Canadian Real Estate Association (CREA)
The The Ontario Real Estate Association (OREA)
The Toronto Real Estate Board (TREB)
The Real Estate Institute of Canada (REIC)
The Canada Mortgage and Housing Corporation (CMHC)
GE Capital Mortgage Insurance Canada
The Canada Revenue Agency (CRA)
These reports are recognized by the courts and are used in legal proceedings, family-law mediations, estate probate applications, corporate relocations, and partnership buyouts. The Canada Revenue Agency accepts these reports for related tax matters such as Capital Gains.
To schedule an appraisal, or if you have further questions about this service, please contact me.