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Finance-Requested Appraisals



Rural Appraisals


Rural appraisals can differ from urban appraisals.

Estimating the value of a rural property can be a challenge. There are several variables that can come into play such as: the size of the property, the outbuildings and farming styles, location, etc. It is important for a rural property homeowner to have a rural appraiser estimate the property market value.

Whether you are purchasing or refinancing a rural property, the rural appraisal must fall under specific guidelines set out by individual lending institutions. Most financial institutions will request that all outbuildings, barns and extra acreage be excluded from the estimated market value.

When you hire AB Appraisal Services, Inc. you are hiring a dedicated professional rural appraiser who will provide you with an estimate of market value with relevant data and analysis. An appraiser that knows the rural area that he or she is appraising.



Relocation Appraisals

The purpose of a relocation appraisal is to accurately estimate the "anticipated sales price" for a relocating employee's property, based on the current market exposure time. The key element in the relocation appraisal report is forecasting which is an analytical adjustment based on market conditions. For the homeowner and the corporation that may end up with the homes, the most important aspect of the relocation appraisal process is learning the anticipated sales price and understanding how it was reached.

The relocation appraisal process can seem confusing to homeowners. Therefore, it is important that an experienced relocation appraiser be used to ensure knowledge and understanding of the relocation appraisal process.

Appraisers follow a set of accepted guidelines and practices known as the Canadian Uniform Standards of Professional Appraisal Practice(CUSPAP), which govern the ethical and legal aspects of the appraisal reporting process. Relocation appraisers must follow a set of guidelines and instructions set forth in ERC'S Residential Appraisal Report.

Depending on the appraisal's purpose and type, its size and detail will vary. The relocation appraisal commands a more thorough analysis than the typical residential appraisal, which is performed on the standardized report for mortgage appraisals and other purposes.

When an appraisal is completed for a relocation, the appraiser may spend from one to two hours inspecting the interior and exterior of the home. The appraiser will pay special attention to the overall interior condition, decor and appeal of the home. In addition to the standard exterior photos that are taken of the front, rear and street views of the home, the relocation appraiser will take interior photos of every room in the home, including the bathrooms and basement.

During the inspection, the appraiser will spend several minutes in each room, carefully noting its condition and decoration, and will complete a sketch of the floor plan. Although a clean home can indicate a home that has been well taken care of, the overall maintenance of the home is of primary interest: Are the walls, flooring and floor coverings in good shape? Are the built-in appliances in good working order? Are the mechanical systems (plumbing, electrical, heating and cooling) functioning properly.The relocation appraiser also will interview the transferee extensively regarding the features of the home and any improvements that might have been done by the homeowner.

To do a proper relocation appraisal, the appraiser needs the most accurate information obtainable about a home. During the initial interview to set up the appointment the appraiser will ask various questions about the home. The information includes, but is not limited to, the style of home, the homes age, garage/room/bed/bathroom count, and any remodeling or addition work that has been completed. This information allows the appraiser to research more accurately available market data sources prior to inspecting the home.

Typically, the appraiser will ask the transferee to prepare information in advance for discussion during the appointment. This list includes, but is not limited to, a recent tax bill, survey, floor plans, list of improvements, list of items staying with the home, any known comparable sales, mortgage information, etc.

After the appraisal is completed, it is submitted to the relocation company. The appraiser follows the guidelines and uses knowledge based on techniques learned in classroom education, industry-sponsored conferences and experience in the field to arrive at a logical conclusion regarding the value of the home.



Divorce Appraisals


Finalizing a divorce involves many decisions, including "Who gets the house"? There are generally two options regarding the house - it can be sold and the proceeds divided, or one party can "buy out" the other. In either case, one or both parties should order an appraisal of the residence. Divorce appraisals require a well supported, professional appraisal that is defensible in court. When you order an appraisal from us, you are assured that you will get the best in professional service, courtesy, and the highest quality appraisal. We also know how to handle the sensitive needs of a divorce situation.

Lawyers and Accountants rely on our values when calculating real property values for estates, divorces, or other disputes requiring a value being placed on real property. We understand their needs and are used to dealing with all parties involved. We provide appraisal reports that meet the requirements of the courts and various agencies.

As in a lawyer handling a divorce, your needs often times include an appraisal to establish fair market value for the residential real estate involved. Often the divorce date differs from the date you order the appraisal. We are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of divorce. The ethics provision within the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) binds us with confidentiality, ensuring the fullest degree of discretion.





Estate Appraisals


Settling an estate is an important and sometimes stressful job. As an executor you have been entrusted to carry out the wishes of the deceased as swiftly and exactly as possible. You can count on us to act quickly and with sensitivity to the feelings of everyone involved.

Lawyers and Accountants rely on our values when calculating real property values for estates, divorces, or other disputes requiring a value being placed on real property. We understand their needs and are used to dealing with all parties involved. We provide appraisal reports that meet the requirements of the courts and various agencies.

Settling an estate usually requires an appraisal to establish Fair Market Value for the residential property involved. Often, the date of death differs from the date the appraisal is requested. We are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of death. The ethics provision within the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) binds us with confidentiality, ensuring the fullest degree of discretion.

All too often, people do not fully appreciate the need to have a detailed real estate appraisal prepared in support of the numbers being used in documents filed with revenue authorities.

Opinions of value used in documents filed with the revenue authorities should be supported by a detailed report as to how the appraiser arrived at his conclusions. Such a report will certainly demonstrate to the authorities that the numbers used are well founded and substantiated.

Having a professional appraisal gives the executor solid facts and figures to work with in meeting Canadian requirements. It assures peace of mind to everyone concerned because we are there to stand behind the appraisal if it is challenged.




Expert Witness Testimony

We offer a full range of Real Estate Appraisal services. We can provide litigation support and expert witness services. In many cases, our independent, supportable analysis has allowed clients to settle cases without going to court.

An appraiser must remain unbiased in performing an appraisal of a property. But we can consult with you and advise you about the relative strength of an appraisal presented by opposing parties. We can also perform additional research and analysis to support or discredit assumptions or conclusions.

Some examples of issues we have experience with include:

Valuation as of a date in the past (retrospective value)
Estate settlement
Valuation for divorce, taxation issues etc.

With our experience and proven track record we are ready to take on any type of appraisal assignment and our appraisal values stand up under the most severe scrutiny.