Frequently Asked Questions
What is an appraisal?
An appraisal is a professional appraiser’s opinion of property value. An appraisal involves researching appropriate market areas and analyzing data which is relevant to the subject property. The appraiser’s familiarity, preparation and professional judgment on the investigated information contributes to a final estimate of value.
Why do I need an appraisal?
An appraisal is necessary for various situations including: purchasing, re-financing, investment decisions, estate planning, litigation, expropriation, lease negotiation, arbitration, etc. It may be required by: lenders (banks), property owners, prospective purchasers, realtors and/or property managers, landlords or tenants, lawyers, accountants, courts, insurance brokers and various other personnel who require an impartial and professional opinion of value.
Do you do Residential Appraisals?
Yes, we complete valuations of single family residential properties on a regular basis. These include single detached residences as well as individual semi-detached units, townhouses and apartment condominiums. Given our longevity in Fort McMurray and Wood Buffalo, we have valued the vast majority of residential properties in Fort McMurray several times. We also value residential multi-family apartment buildings and row housing developments, and raw development land.
Do you value commercial and industrial properties, and if so, what type of properties?
We have experience valuing numerous types of commercial and industrial properties under a wide array of uses. These include commercial retail buildings, shopping centres, fast food restaurants, hotels and lodging facilities, etc. We also value all types of light and medium industrial type properties under various uses as well as special use properties such as churches, golf courses, car washes, fly-in fishing camps, work camps, etc. and Replacement Cost Valuation for Insurance purposes.
What type of Consulting Services do you offer?
Clients request our services for various consulting type assignments such as Lease Rate Analysis to assist with lease negotiation, expert witness for arbitration cases, feasibility studies, etc.
What is the cost of an appraisal?
Commercial/Industrial/Institutional: The fee for these narrative appraisal reports can vary significantly depending on the complexity of the file and time required to sufficiently complete the assignment. Numerous factors are taken into account and as such these file requests are quoted on an individual basis.
Residential: A fee schedule has been set for these form reports based on the property type, location, and additional information that may be required by the end user, and this fee schedule covers 95% of the assignments requested. Those properties with more unique circumstances are quoted individually. Please contact our office directly should you require any residential related services.
Who do I contact to get a quote for service?
Commercial/Industrial/Institutional: Each call for services is unique and therefore requires the consultation of the Appraiser or Associate involved with the specific assignment. It is imperative to evaluate the complexities and scope of work prior to making a commitment to the associated cost and timing of completing the project. After your inquiry, one of our professional associates will make contact to discuss your request and quote for our services, in a timely manner.
Residential: Contact our main switchboard reception desk by email or telephone so that we may get the pertinent details necessary to take the order and arrange for an appointment to view.
How long does it take to get an appraisal?
Commercial/Industrial/Institutional: Depending on the scope of work for the project, complexity of the property and time commitments on current assignments, the turnaround time can vary greatly. Typically an expected completion date will be established at the onset of the assignment. Validating the accuracy of the data and writing a professional report requires a substantial time commitment for completion.Please contact our office for a quote
Residential: Generally viewed and completed within 3 – 5 business days.
How long has Chalifour been completing Property Valuation Services?
Chalifour has been completing appraisal and real estate consulting services in Fort McMurray and the Wood Buffalo region since 1976. We are also proud to have been involved in the tremendous growth of our community through that time period.
What areas does Chalifour service?
The Fort McMurray and Wood Buffalo marketplace has been extremely active over the past number of years and in order to best serve our clients, we at Chalifour focus strictly on the Wood Buffalo region. In doing so we can stay on the pulse of activity and the stay aware of those items occurring behind the scenes that impact value and the decision-making of our clients.
Is the appraiser bound by a confidentiality agreement?
According to Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP), all appraisers are bound by a confidentiality agreement. At Chalifour, our professional appraisers and associates are all members of the Appraisal Institute of Canada and therefore adhere to all forms of confidentiality.