Product Description

Valuation & Appraisal Division

All of our valuation assignments are conducted in accordance with the Royal Institution of Chartered Surveyors' Valuation Standards [Sixth Edition] (RICS Red Book). They comply with the International Valuation Standards (IVS), the Uniform Standards of Professional Appraisal Practice (USPAP), and the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP). The Appraisal report complies with the CUSPAP.

We offer the following Valuation and Appraisal products, each tailored to fit our client's precise requirements:

Master Valuation Report - This is a complete valuation. The report provides the end user with a comprehensive (fiscal, physical and legal) picture of the property. It is an invaluable resource document for asset management. There is no restriction on its use. End users include pension plans, REITs, national and regional property companies, etc. It is also a "court ready" report suitable for use in litigation, eg. expropriation, capital gains tax, assessment appeals, etc.

Valuation Report - This is a complete valuation but the report is issued in summary format. It is used for all property types. Although less comprehensive than a Master Valuation Report it is suitable for all purposes other than litigation and conduit financing. Its use is unrestricted. Its cost is approximately 75% of a Master Valuation Report.

Form Report - This is a complete valuation but the report is issued in abbreviated format. It is used for smaller properties. Its use is unrestricted other than litigation and conduit financing. Its cost is approximately 58% of a Master Valuation Report.

Concise Report - This is a complete valuation but the report is issued in restricted format. The report contains a statement of our findings and conclusion but our notes and working papers are held on file rather than being in the report. Its use is restricted to the client. Its cost is approximately 55% of a Master Valuation Report.

Update Report - This is a complete valuation but the report is issued in restricted format since it is an update of a Master Valuation or Valuation Report. This type of valuation is the most economical way to proceed if there is a requirement for periodic revaluations of the property. Since the Update Valuation can only be completely understood if it is read in conjunction with the Master Valuation or Valuation Report its use is restricted to the client or to parties in possession of both reports. Its cost is approximately 29% of a Master Valuation Report.

Letter of Opinion - This is a limited valuation and is generally based on an external inspection of the property and such information as is available in our Data Bank. Essentially this type of valuation is of a preliminary nature only. Its use is restricted to the client and it is provided for the client's exclusive, internal use as an input to broad decision making. The report contains a statement of our findings, value range and a "most probable value". Our notes and working papers are held on file rather than being in the report. This is a limited assignment and a restricted report . Its cost is approximately 25% of a Master Valuation Report.

Valuation Review - This type of assignment is provided to clients who wish to obtain a professional review of a Valuation or Appraisal Report, in order to determine whether the analyses, opinion and conclusions contained in the report under review are appropriate and reasonable. Its cost is approximately 33% of a Master Valuation Report.

Appraisal Report - This type of assignment is undertaken in accordance with the Appraisal Institute of Canada's Uniform Standards of Professional Appraisal Practice (CUSPAP). It is acceptable to Canadian banks for use in mortgage financing. An Appraisal Report follows the same format as a Valuation Report but the assignment entails less investigation, and so is not as accurate or reliable. Its cost is approximately 52% of a Master Valuation Report.

Equipment Appraisals - Since clients owning industrial property often require an appraisal of their processing or manufacturing machinery we have forged strategic alliances with experts in selected industries who can undertake equipment appraisals.