Single Family Homes, Duplexes, Condos, and Individual Building Lots
35 Years of Direct Brokerage Experience in the Toronto Real Estate Market
Full Member Access to Toronto MLS Listings, Sales and Statistics
North Riverdale, South Riverdale, Riverside, Leslieville, The Pocket,
East York, Playter-Jackman, Danforth Village, The Beach, The Upper Beach, The Bluffs
The Hunt Club, Cliffcrest, Birchcliff,
Rosedale-Moore Park, Chaplin Estates, Leaside, Bennington Heights
Davisville Village, Rathnelly, Cabbagetown, Corktown,
Summerhill, Yorkville, The Distillery District, Harbourfront
The Annex, Little Italy, Liberty Village, Trinity-Bellwoods, Dufferin Grove,
Beaconsfield, Roncesvalles,Regal Heights, Christie Pits
The Junction, High Park, Swansea, Bloor West Village
~Residential Freehold and Condominium Properties Appraised~
Mediation. Estate/Probate. Corporate Relocation
Partner/Family Buyouts. Capital Gains Tax.
Historical Value. Current Market Value.
Estate Planning Renovation Planning
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 property and location has a unique 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 your appraisal and a 'bank' appraisal?"
Bank appraisers may draft up to 10 or 12 reports per day. I allot between 5-10 hours for each appraisal report. A great amount of research and analysis is involved.
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 and market conditions specific to the subject property. I have no relationship with banks. 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 thorough on-site inspection of the subject property, requiring 45-60 minutes. At this time careful attention is paid to the structural elements and mechanical systems. Improvements and deficiencies are noted.
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 neighbourhood of the subject property. All available comparable property sales over the past 2-3 years and then the past 2-3 months, are carefully reviewed and short-listed to the most similar and most recent sales. I have full access to Toronto Real Estate Board listings, sales, and statistics. I also have access to the Toronto Registry which will show non-TREB sales.
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 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. I do not draft the appraisal on a confined software form.
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.
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.
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" add $75.00 per date (You may want to know today's value as well as a value in the past for capital gains purposes).
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 not mention other evaluations or opinions, offers to purchase, or anticipated value.
About Michael Kavluk
Michael Kavluk has been active in Toronto's real estate industry since 1979. He is a Broker and Appraiser, associated with Bosley Real Estate Ltd. (Brokerage).
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 may are used in legal proceedings, family-law mediations, estate probate applications, corporate relocations, and partnership buyouts. The Canada Revenue Agency accepts the reports for tax matters such as Capital Gains.
To schedule an appraisal, or if you have further questions, please contact...