What information do I need?
The appraiser needs enough information to identify the property, the client’s name (that may be you or a corporation) and the intended use of the appraisal. The tax roll (MPAC) number is located on the property tax bill and is the most useful. The tax bill is useful as it identifies the property, land size and address. One common use of an appraisal is to assist in arranging financing. There are many potential uses of an appraisal and a brief consultation with the appraiser may help in clarifying the intended use of the appraisal.
Does the appraiser need to visit the property?
Yes. In most circumstances a site visit is required. The property owner/client will assist the appraiser with access to the property. The owner may or may not attend the property during the appraiser’s visit. Attendance by the owner is not required. A typical residential site visit may take 1-2 hrs. depending on the size of the property. Interior and exterior photos are taken along with building measurements and other details.
How long after the site visit before I receive the appraisal?
Typical residential delivery times are 2-3 weeks. Special arrangements can be made for urgent delivery. The shortest possible delivery time is 3 days. Commercial delivery times are usually 3-6 weeks. Prior to proceeding, A1 Accurate Appraisal prepares a letter of engagement which identifies the property, client, date of inspection, date of report delivery and other details. Payment is due upon signing the letter of engagement.
How much does it cost?
Shawn O’Connor is an AACI designated appraiser and is qualified to provide a wide range of appraisal services including appraisals, consultations and review appraisals. Appraisal fees range from $450.00 for a residential report to $15,000.00 and upwards for litigation assistance. Fees are based on an hourly rate of approximately $100.00- $200.00/ hr. plus disbursements. Fees may be paid online. Contact Shawn for a fee quote as prices vary according to seasonal demand.
Does it cost to ask questions?
There are no fees prior to proceeding. Appraisal inquiries are free and encouraged. Contacting me will help you understand the appraisal process as well assist your decision making with regard to appraisal services.
Have a great day!
Shawn O’Connor, AACI, Hon. B. Comm