Accredited & Certified Canadian Personal Property Appraisals
Who needs an Appraisal?
Who needs an appraisal?
|1. Initial Contact with Appraisal Ontario - ( The Engagement Process
We apply our standard Professional procedures using our detailed proposal process. This detailed process has proven to consistently result in accurate; timely and cost effective Appraisal Assignments for all our clients.
We will identify the type and scope of each Appraisal Assignment. After receiving any assignment request by a client; insurance agent, financial institution, or a private individual - we ask detailed questions such as the nature and reason for the assignment; the intended use, fee structure and the exact assets/chattels or inventory to be Appraised are answered before moving forward. Once this is established, full disclosure and signed documents and agreements are in place we then can move forward.
2. THE EXAMINATION / INSPECTION: Gathering Data (Our Due Diligence)
3. THE PHOTOGRAPHS:
4. THE RESEARCH:
5. THE REPORT:
How do Appraisers charge for their work?
Accredited Personal Property Appraisal fees are competitive with today's market. They are based on the time necessary to complete the appraisal and to our prevailing hourly rate of $225.00 an hour (Effective JAN 1ST 2014) for the Appraiser assigned to the assignment. The fee is all-inclusive and includes the time for property inspection, research, analysis, and report preparation.
There is a minimum of a 3 hour per every full Appraisal assignment. All Appraisals usually take 2-3 hours of administration & report writing and we have now reduced this rate from $55.00 per hour - to now Only $35.00 per hour (Effective JAN 1ST 2014). The appraisal time usually and report depending on distance and complexity of the item(s).
Our research time is charge at a rate of $95.00 per hour, but depends on the nature of the assets to be appraised. There is an average of 2-3 hours of research time for every hour quoted in the estimated time allowances disclosed in every written proposal.
However every appraisal is unique and a written proposal will outline the actual time and charges per assignment. Our report investigation and gathering market comparable's are charged at a rate of $75.00 per hour, but will be disclosed in every written proposal and finial appraisal agreement.
We have no "hidden fees" nor do we charge a commission on our other services.
We also do estate evaluation documentation analysis reports for smaller estates that is less and might fit in with your needs and budget. We will be happy to discuss our fee structure with you. Any additional consulting, deposition or testimony work is charged above and beyond the initial appraisal fee.
Expenses for travel and out of pocket items are billed in addition to the appraisal fee for Expert Witness assignments and Insurance Disputes under Section 128, The Insurance Act of Ontario, R.S.O. 1990.
What can be done to help facilitate the Appraiser and the costs?
It is always best to share the following information to help facilitate expenses and time:
What is the purpose of the report?
What is the intended use of the appraisal?
What is the location and items involved?
What is the level of documentation require?
Gather documentation, sales receipts, certificates, past appraisals, letters, and any other information you might have. Prepare for the appraisal: have items ready, unlocked and available especially jewelry, separate silver, stems and china; and if possible, pull furniture away from the wall.
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