AppraisalOntario.com what is a Ontario Accredited Canadian Personal Property Appraisal
Appraisal Ontario CPPA

appraisal ontario CPPA

 

 
 

Accredited & Certified Canadian Personal Property Appraisals

Who needs an Appraisal?
What types of Appraisals should be considered?
What should be expected from a full appraisal service?
How do Appraisers charge for their work?
What can be done to help facilitate the Appraiser and the costs?

 

 


Who needs an appraisal?


Appraisals are a necessity both personally and legally in today's complex and complicated world. The following is just a sample of situations that Accredited Personal Property Appraisal handles in which an appraisal is necessary:

^Back to Top

What should be expected from a full appraisal service?


You should receive the services of an educated and accredited; certified personal property appraisal expert who will provide you with a formal written and descriptive report complete with photos which the appraiser should be willing to defend in court. If should include any limiting or qualifying conditions, the Appraiser's qualifications, a complete and accurate description of the items, market analysis, markets selected and well-defined value conclusions.

^Back to Top

 

How is an appraisal performed?

An appraisal is a FIVE step process:

 

Engagement Process   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.

 

     
A-Z Appraisal property inspections  

2. THE EXAMINATION / INSPECTION: Gathering Data (Our Due Diligence)

An Accredited Personal Property Appraisal is formal process and the appraisal begins with setting an appointment for an examination of your items. The Appraiser's objective at the onsite inspection of the assets (machinery & equipment, furniture, fixtures, leaseholds and inventory) is the basis to determine condition, age, obsolescence and other factors that could affect the value. Inspection also includes a detailed description of the assets, a taking of important details such as models and serial numbers, digital photographs or videos of the assets at the site and any other important details that can affect value. Taking time preparing for the examination will shorten the exam, reduce unnecessary handling of items, and save you money.

 

     
Documenting valuables  

3. THE PHOTOGRAPHS:

Digital images are taken to document the item's existence and aid in research. In some cases video will also bee done to insure that no detail is missed in the examination process. Only the photographs are included in the final report.

 

     
expert valuations  

4. THE RESEARCH:

Values are based upon comparable sales and history for each item. Whether the Appraiser values assets or inventory, we understand the background of the company, the nature of the industry and other key factors by interviewing the key management, and references current industry sources. Research time is the time taken to identify marks, labels, dates, locating and analyzing comparable items, investigating necessary markets and if necessary, consulting experts. Using the information collected at the examination appointment, the Appraiser works to positively identify each item, which is essential to arriving at an accurate value. Our team will then utilize our vast network of international research sources to gather up-to-date pricing information on identical or similar pieces sold throughout the world. We work closely with other Accredited Personal Property Appraisers in our Society, to validate expertise and solid conclusions.

 

     
professional reports  

5. THE REPORT:

An Accredited Personal Property Appraisal's final report consists of two bound copies of the completed Appraisal Report - along with the Appraiser's qualifications, purpose, and basis of Appraisal. Also included in the document is the inventory, market research, valuation, and necessary comments pertinent to the property. Each item or group of items will have a description; age if appropriate, measurements, condition, value and digital photographs. The combination of our experience and expertise, along with a strict adherence to the highest standards of professional appraisal principles, enables us to provide a Certified Appraisal Report suitable for a variety of appraisal needs. Our on-site appraisal service is a simple, reliable, and cost-effective way to establish an accurate and current value for your items. The reports are compliant with the Uniform Standards of USPAP.

 

     

^Back to Top

 

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.

 

^Back to Top

 

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.


 

^Back to Top

appraisal ontario CPPA