Athabasca, Edmonton, Slave Lake, Lac La Biche and Northern Alberta Real Estate Appraisals
Whether you’re purchasing a home, selling commercial real estate, developing land as an investment, or conducting any other type of real estate transaction in Athabasca, Edmonton, Slave Lake, Lac La Biche and Northern Alberta, a professional property appraisal will streamline the process and establish the fair market value of any property. Many real estate professionals will claim to provide an estimate of the property value, yet only a licensed and certified appraiser is qualified to provide a completely objective evaluation along with a detailed and comprehensive written report. Real estate appraisal and valuation in Alberta is regulated by the Real Estate Council of Alberta (RECA) under authority of the Real Estate Act (Alberta). Appraisal and valuation services can only be provided by a licensed real estate appraiser.
Residential - Commercial - Industrial
What can a Landucation appraiser do for you? Our accredited professionals are available to assist you with:
Following the onsite assessment and inspection at your location in the Athabasca, Edmonton, Slave Lake, Lac La Biche and Northern Alberta, Landucation appraisers determine the market value of real estate and comply with the regulations set forth by the Canadian Uniform Standards of Professional Appraisal Practices (CUSPAP).
Insurance Replacement Cost Appraisals
An insurance appraisal is a replacement cost analysis that provides an estimate of the cost to replace existing building improvements and associated infrastructure on a property for insurance coverage. The appraisal report ensures adequate protection against loss caused by fire or other perils. Insurance appraisals are frequently prepared for:
Since we routinely appraise a wide range of residential and commercial property types, we are well-informed about current construction costs and therefore are a good choice to conduct your insurance appraisal. We utilize our experience and network of builders and developers to ensure the most up to date valuation data.
Our services include:
The Appraisal Process
The appraisal process includes the research, compilation and analysis of all pertinent data as it relates to your specific requirements. Landucation Appraisals provides several types of reports in standardized or narrative book form.
A list of all assets and defects are objectively analyzed and compiled in a detailed written report.
Includes the specifics of construction, property layout, number of rooms and specific features, equipment; improvements and renovations.
Neighborhood and surrounding areas
An assessment is made of a property’s proximity to services, facilities and amenities as they may (or may not) relate and affect its market value.
Public records are analyzed to confirm sales and make comparisons in the applicable Athabasca, Edmonton, Slave Lake, Lac La Biche and Northern Alberta region. A range of public records and sources are used including zoning records, tax data, professional associations and other applicable publications.
Calculating the Market Value
In its most basic form, this approach is built on the premise that the market value of a property is partly derived by and comparable to surrounding properties. This method is a direct reflection of market activity and is usually the strongest indication of value. The Direct Comparison or Sales Comparison Approach involves the analysis of market data, primarily the selling prices of comparable properties to determine a value estimate for a given subject property. The application of this approach is founded upon the Principle of Substitution. This Principle is based on the premise that a prudent purchaser will not pay more for a given property than the cost of acquiring an equally acceptable substitute property or a property with the same utility, provided there is no undue delay.
The Cost Approach is an appraisal technique in which the value of the property is derived by adding the estimated value of the land to the estimated cost of the improvements, after appropriate deductions for depreciation have been considered. When considering the value by the Cost Approach, it is recognized that cost and value are not synonymous. Value is the relationship between a commodity and the desire for purchase. Value may be higher or lower than the cost depending on demand conditions. The cost to produce an item and what that item will sell for on the open market are two very separate concepts.
Generally reserved for valuations for commercial and investment properties, determining the market value using the income capitalization approach relies on the perspective that the potential earning power of real estate is significant when calculating its actual value. The methodology produces an expression of the current market value of the investment potential of a property. Income capitalization techniques are used to analyze sales data that measures potential profit and loss.
Landucation Appraisals provides complete appraisal services for:
- Commercial properties
- Residential properties
- Campground and RV Park properties
- Multi-Family properties
- New construction appraisals
- Condominium appraisals
- Gas station / convenience stores
- Foreclosure and litigation
- Capital gains and tax planning
- Reserve Fund Studies
Please call us for more information or for a consultation on your residential, commercial or industrial property.