Like most professional services, appraisal fees are directly related to the estimated amount of time the professional will spend in completing the service plus the inherent risk associated with offering our professional opinion of value – understandably a higher value property typically assumes a greater opinion risk than does a lower value property. The estimated amount of time may vary from one assignment to another even though the reports for different assignments may look similar. While an appraisal assignment involves time for inspection, research, analysis and reporting of assignment findings and conclusions, the applicant/client sees only a portion of the time required, typically the time for inspection.

AIC reports used by Home Value Inc. are the most current and recommended reports from the Appraisal Institute of Canada (AIC).

Our basic fee to complete an appraisal report typically does not account for items such as:

• Additional consulting
• Court testimony
• Multiple structures
• Complex properties
• Oversize or high-value properties
• Historical properties
• Stigmatized properties
• Rush/Urgent assignments – See Below for Urgent/Rush service & pricing.

Consequently, the estimated fees below are for properties that are more or less typical of the local market

For Home Value Inc., Appraisals ordered using our web site Order Utility and payment by Email Transfer are probably the most convenient and inexpensive way for customers to place the appraisal order and make payment for an appraisal.

We also accept payment by Visa & Master Card. This can be done by going to http://www.hvipayment.ca and entering the order number, property address, and the name of the appraiser, followed by your credit card information.

(AIC) Full Appraisal Report for Lending Purpose

A basic fee for Broker, Lender & Owner/Applicants of a Lending Purpose Appraisal Report is given below.  Once provided the subject property & other assignment particulars the assigned appraiser will be in a position to determine and communicate a firm quotation for our services to the party paying.  This will be communicated at the time or immediately after the appraiser calls to arrange for the property inspection and collection of the fee.

• Starting at $495.00, for a very basic property + higher for incrementally more complex and larger properties that will require more time for inspection, research and analysis plus anticipated disbursements that will be required.  All fees are before HST.
• (AIC) Full Report update – $325.00 or 50% of the original fee, which ever is higher
• (AIC) Limited Report, Drive By – $325.00
• Letter of transmittal, redirection of completed report – $150.00
• Additional Letter of Reliance of a completed report, ie. for Second Mortgage lending – $250.00 or 50% of the original report fee, which ever is higher
  • Only potentially available if the original report was completed in the previous 3 months, and the CRA appraiser is agreeable to extending the reliance
• Construction Progress inspection report with progress schedule & photos – $250.00
• Construction Complete confirmation report with photos  – $250.00
• Income property (Triplex & Quad) Partial Schedule A add – $200.00 to the Appraisal Fee
• Opinion of Market Lease Rate Schedule re Income property (S.F.D. home or apartment) add – $175.00 to the Appraisal Fee when in addition to a full appraisal or – add $ 225 when asked for subsequent to us completing the report or $325 when ordered alone
• Opinion of As if repairs/upgrades complete add – $ 200 to the Appraisal Fee when in addition to a full “as is” appraisal and when the repairs/upgrades are clear, distinct and relatively minor
• WHEN PAYING by Email Money Transfer or cash, a discount of approximately 2.5% will be applied.

Typical Turnaround Service Levels & URGENT/RUSH ASSIGNMENTS

If your required service turnaround is typical and NOT URGENT, and access for the appraiser to inspect the property and receive payment for the service is not unduly delayed, you can expect the completed report to be sent to you within 5 business days from placing your order. Although we cannot guarantee this turn around 100% of the time, we constantly monitor our service performance and we are proud to report we accomplish this timing on over 75% of our assignments.

If you need the property inspected and the report completed in less than 5 business days, i.e. in the next 24 – 48 hours, the appraiser may be able to adjust her/his schedule to accommodate this requirement, you should state your requirements and the appraiser will let you know if s/he can accomplish this turnaround. If accepted, BE ASSURED, THE SAME CARE AND DUE DILIGENCE WILL BE GIVEN AS IS WITH ALL OUR TASKS AND ASSIGNMENTS, but to deliver this URGENT/RUSH service we will likely be working extended hours, weekends & holidays, be aware, and inform your applicants, our URGENT/RUSH service fee is capacity variant, so between $100 to double the regular fee can apply.