When your property has been appraised, a report will be provided that contains information relevant to independent property valuation, including the purpose of the appraisal, other qualifying conditions, neighbourhood conditions, property identification, data analysis, the value estimate and the effective date of the appraisal.  All reports are also signed and may contain support material such as maps, charts or photographs.

All reports will demonstrate either one or more of the three basic data-processing methodologies used to arrive at an indication of value:

Cost Approach

The Cost Approach estimates the cost of building a new property identical to the subject being appraised, based on current prices, and subtracting accumulated depreciation and adding the estimated land value.

Income Approach

The Income Approach may be used for income-producing properties and is based on the theory that value is the present worth of the income stream the property is capable of producing when developed to its fullest use.  The net operating income from the property is capitalized into value by the appropriate method and rate.

Direct Comparison Approach

The Direct Comparison Approach is based upon the theory that an informed purchase would pay no more for the property than the cost of acquiring another existing equivalent property.  The value estimate is based on the selling price of comparable properties.