Embedded Files
Frequently Asked Questions
Do you provide residential and commercial appraisals?
Our services include the valuation of all residential types of properties, residential lots, and low-density commercial properties. Low-density commercial properties are those that are low density in height and are used for retail, office, industrial, or mixed-use purposes, as well as multi-residential properties up to 12 units. We also provide market value estimates for commercial land based on site area.When would a property owner need to hire an appraiser?
There are several occasions when a homeowner would need to order an appraisal. Some instances would include when buying or selling a property, for financing or refinancing a property, for estate planning purposes, for retirement planning purposes, during a litigation which includes real estate assets, for a property tax appeal, for CRA capital gains purposes, and for bankruptcy purposes.Do you provide service on weekends and evenings?
Yes! If there is a rushed residential appraisal request, we can certainly accommodate weekend inspections in order to meet your deadline. A rushed appraisal will include an additional fee. For commercial appraisals, inspections are only done during the weekdays within standard work hours. However, we may also be able to accommodate rushed commercial appraisal requests depending on the appraiser’s available turnaround time. An additional rushed fee will also apply.How much does an appraisal cost?
The appraisal fee depends on the service type, the property type and the intended use of the valuation. We can provide a precise estimate once we have all the required data.What method of payment do you accept?
The only payment method we accept is Interac e-transfer, which you can send to payments@ottrea.com. To confirm your appraisal request and schedule the inspection, we require payment in advance or after the inspection. In case you need to cancel after the inspection is completed, we will refund your payment minus a 20% cancellation fee.Are your appraisers certified?
Yes, our Lead Appraiser has an AACI designation with the Appraisal Institute of Canada (AIC) and the Candidates are working towards their designation with AIC Canada. If you would like to confirm with AIC Canada, simply enter the appraiser's last name here.Do I have to clean my home for the inspection?
While the value that the appraiser gives your home largely depends on the recent sales prices of comparable properties, your property should be neat, clean, uncluttered, and easy to inspect. Generally, it does not matter if your lawn is not mowed or your house is a mess, but it’s important to realize that a dirty or unkept home can increase the appearance of wear and tear beyond normal—and that condition can, in fact, affect value.What will the appraiser look at during the inspection of my home?
Exterior and interior conditions, total room count (with value added to bedrooms and bathrooms), functionality, including interior room design and layout, improvements to kitchens, baths, windows, roof, the condition and age of the home’s plumbing, electrical, and HVAC systems, exterior amenities, such as detached garages, decks, porches, and inground pool. Any unappealing features, such as an exterior appearance that’s inconsistent with the rest of the neighborhood, cracks, holes, or evidence of damage such as mold, water leakages will detract from the value. For more information regarding this topic, please visit AIC Canada here.Do you provide services in French?
Unfortunately, we do not provide services in French. In the province of Ontario, all reports must be submitted in English.
Google Sites
Report abuse