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 property being valued. The appraiser’s familiarity, preparation and professional judgment on the investigated information and in particular the local marketplace contributes to a highly reliable 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 complete Residential Appraisals?
Yes, we complete valuations of all types of 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 and this familiarity of the local marketplace is extremely helpful. We also value residential multi-family apartment buildings, 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, gas bars, 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?
Consulting services include:
- Lease Rate Analysis
- Arbitrator, Expert witness
- Feasibility studies
What is the cost of an appraisal?
Commercial/Industrial/Institutional: These are length narrative reports and the fee varies significantly depending on the complexity of the file and time required to sufficiently complete the assignment. As such these assignments are quoted on an individual basis.
Residential: These are summary form reports and our fee schedule is based on various factors such as property type, rural location, and additional information that may be required by the end user. Please contact our office directly for a quotation on 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 provide the appropriate quote.
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 commitments on other assignments, the turnaround time can vary greatly. An expected completion date will be established when submitting a quote to the client.
Residential: Generally viewed and completed within 3 – 5 business days.
How long has Chalifour been completing Property Valuation Services?
Chalifour has been providing appraisal and 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, and to have helped our many customers through the bouyant times and the challenging.
What areas does Chalifour service?
We at Chalifour focus strictly on the Wood Buffalo marketplace. In doing so we are able to stay on the pulse of activity and have an awareness of those factors occurring behind the scenes that impact value.
Is the appraiser bound by a confidentiality agreement?
Yes. As member of the AIC we are bound by the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP), which includes a comprehensive confidentiality agreement.