Thirty-Five Years of Full-time Active Experience in Toronto's Residential Real Estate Market
Toronto Neighborhoods Served
Riverdale, Riverside, Leslieville, The Beach
The Bluffs, The Hunt Club, Cliffcrest, Birch Cliff
East York, Playter-Jackman, Danforth Village
Rosedale, Moore Park, Chaplin Estates, Leaside, Bennington Heights
Davisville Village, Yonge-Eglinton, 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 Real Estate Broker over the past 35 years, I instinctively understand the ongoing and constantly changing dynamic of the local market, and the fact that each individual property and location will have a distinct set of characteristics and value considerations.
The difference between this appraisal and a 'bank' appraisal ?
By definition, "bank appraisals" can be somewhat biased. They are intended to protect the bank's business interests. With a significant volume of demand from banks, the lenders' appraisers may have only time enough to drive-by the subject property or perhaps, take a 5 minute walk through.
Typically, bank appraisals are of properties which have "just sold" or are being refinanced at a specified amount. In either event, the bank's appraiser has a known price/value to reference.
Contrastingly, I carefully inspect each subject property and then schedule up to 4-6 hours for the research, analysis, and writing of the appraisal report. The content of each report is completely original. No 'cut and paste' clauses or recycled comparable sales. No boilerplate software. No agenda.
The work on my appraisals is approached from the bottom up. It is based entirely on historical research, current market conditions, and those features specific and unique to the subject property.
For the client who is seeking a clearly presented, absolutely unbiased appraisal.
Here's What's Involved:
Inspection:The appraisal process begins with a careful on-site inspection of the subject property, usually 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 sought.
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 neighborhood-location of the subject property. 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 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 original appraisal report which includes selected comparables, a narrative rationale, supporting documents, and photographs.
Delivery of Report:The report is carefully reviewed before being released to the client, within 3-5 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:Base fee for a typical single property: $425.00 (Plus HST). Additional Historical Date: $175.00 + HST. Payment is requested at the time of inspection.
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:
Canada Mortgage and Housing Corporation (CMHC)
GE Capital Mortgage Insurance Canada
Canadian Real Estate Association (CREA)
The Ontario Real Estate Association (OREA)
Toronto Real Estate Board (TREB)
Real Estate Institute of Canada (REIC)
Canada Revenue Agency (CRA)
These reports are recognized by the courts and are employed in legal proceedings, family-law mediation, estate probate applications, corporate relocation, and partnership/family buyouts.
The Canada Revenue Agency accepts these reports for related tax matters such as Capital Gains.
The appraisal cannot be undertaken unless the complete objectivity of the appraiser is maintained
Please do not refer to other evaluations, opinions of value, offers to purchase, or anticipated values
To schedule an appraisal, or if you have further questions about this service, please contact me.