Frequently Asked Questions
What would you like to know?
Following are answers to some of the questions we are most commonly asked about our appraisals. If the information you need is not here, please contact us and we will be glad to assist you any way we can.
- What are your office hours?
- What are your coverage areas?
- Do you provide appraisals in the evening?
- What methods of payment do you accept?
- What’s the difference between an appraisal and a home inspection?
- My first language is French. Can you provide French-speaking appraisers?
- How much does an appraisal cost?
- How long does it take the appraiser to inspect my home?
- How long does an appraisal report take to complete?
- What are the qualifications of your appraisers?
- Should I order a private appraisal or go through my mortgage broker or bank?
- If I order an appraisal can I do what I want with it?
- How does your appraisal differ from a bank appraisal?
- How does an appraiser determine the value of a home?
- I had an appraisal done on my home last year and I am now refinancing. Why does my bank require a new appraisal?
- What will the appraiser be doing at my home?
- What do I need to do to prepare for the appraisal inspection?
- Do you perform appraisal inspections on the weekend?
- Can the appraiser discuss the value with me?
- If I get an appraisal done and decide to sell my home privately, do I need to adjust the appraised value accordingly since I am not using a realtor?
What are your office hours?
Our office hours are Monday to Friday, 9 a.m. to 5 p.m.
What are your coverage areas?
We service the greater Ottawa and Gatineau areas as well as a large surrounding area, including Smiths Falls, Kemptville, Perth, Cantley, Chelsea, Val-des-Monts, Wakefield, and many more. Time and mileage fees will be added when serving clients outside of metropolitan Ottawa and Gatineau.
Do you provide appraisals in the evening?
Our appraisers require daylight to report accurately and provide a thorough inspection of the interior and exterior conditions of a property, so we schedule our appraisals for daytime.
What methods of payment do you accept?
Affiliated Property Group accepts Visa, MasterCard, cash, certified cheques and Interac E-Transfer.
My first language is French. Can you provide French-speaking appraisers?
We have a number of qualified bilingual appraisers, who are able to provide reports in both French and English.
How much does an appraisal cost?
The cost of an appraisal depends on several factors that may differ from property to property, such as the type of report needed and the intended purpose of the appraisal. Once our appraiser has a clear understanding of these, he/she can provide you with a more precise quote.
How long does it take the appraiser to inspect my home?
The average residential appraisal inspection will take approximately 30 minutes depending on the property size and type. Rural properties may require additional time. For commercial properties, appraisals can take upwards of two hours depending on the property type and size.
How long does an appraisal report take to complete?
Appraisal reports are normally completed 48 hours from the time of the inspection. In certain circumstances, appraisers can complete their report within 24 hours of the inspection. However, more complex properties and reports require slightly more time to complete.
What are the qualifications of your appraisers?
Affiliated Property Group has a large team of professionals appraisers certified as Accredited Appraiser Canadian Institute (AACI), Canadian Residential Appraiser (CRA) and/or Certified Relocation Professional (CRP). Our firm is also on all approved lender lists.
Should I order a private appraisal or go through my mortgage broker or bank?
When you order an appraisal directly from Affiliated Property Group, you are the sole owner of the report you receive. Copies can be released only with your approval. When a lender or broker orders an appraisal, on the other hand, he or she becomes the legal owner of the report—regardless of whether or not you paid for it. If you decide to change your broker or lender before a deal is made, you would not have access to the report.
If I order an appraisal can I do what I want with it?
The appraisal report is a legal document with a clearly identified purpose (for example, mortgage financing or divorce/separation). It can only be utilized for the purpose in which it was intended.
How does your appraisal differ from a bank appraisal?
We supply you with a third-party opinion and fair market value that is unbiased and relies on MLS sales data. The reflected marketing time within the appraisal, which indicates the window in which you may achieve the market value, can vary affecting the sale price of your home. If the bank requires a shorter marketing time, it will reduce the market value of the appraisal.
How does an appraiser determine the value of a home?
Values are based on the condition of the property as well as recent market data on similar homes in similar locations. The average sale price from this data will provide the most accurate value for the appraised home. Whereas a real estate agent wants to place the highest value possible to achieve the highest selling price, our goal is to arrive at an objective valuation and provide a well-researched appraisal report supported by sales data.
I had an appraisal done on my home last year and I am now refinancing. Why does my bank require a new appraisal?
An appraisal report is valid for a period of six months to one year depending on the bank or lender reviewing the document. Since property values fluctuate with market conditions, a bank or lender will require either a new report or an update of the original report to reflect the current market value.
What will the appraiser be doing at my home?
The appraiser will walk through your home and take note of its features and upgrades; its interior and exterior finishes and condition; and its heating, cooling, ventilation, electrical and plumbing systems. The appraiser will also measure the exterior dimensions to determine the gross living area. The appraiser will need to access every room in your house and will take photos of all major rooms as per the lender’s requirements.
What do I need to do to prepare for the appraisal inspection?
Write a list of improvements or renovations you have completed in the last few years. If you have pets, please ensure they are restrained during the inspection. We will need access to all rooms in the home and your mechanical systems, including the furnace, electrical panel and backyard. If you have your tax bill available, it can verify the correct spelling of your name, street address and legal description of your property.
Do you perform appraisal inspections on the weekend?
Appraisals are done during regular office hours, but exceptions can be made on a case-by-case basis.
Can the appraiser discuss the value with me?
Appraisers are bound by professional rules of ethics and a strict confidentiality agreement not to disclose any information except with the client or the individuals/institutions approved by the client who ordered the appraisal. In most cases, our client is hired on behalf of the homeowner or purchaser. To discuss any information, we need written approval from the ordering client.
If I get an appraisal done and decide to sell my home privately, do I need to adjust the appraised value accordingly since I am not using a realtor?
The market value estimate is based on Ottawa-Carleton Real Estate Board MLS sales, which include the realtors’ commissions in the sale price. Our estimate of market value could therefore be higher than what you could potentially sell your home for if selling privately. A typical real estate commission could range from five to six percent depending on the brokerage utilized.