FAQs (Frequently Asked Questions)

The role of the appraiser is to analyze essential information, market statistics, and other facts about the subject property and market area, analyze the data, and develop an objective, impartial, and unbiased opinion of value of the subject property.

Designation from the Appraisal Institute of Canada (AIC) is an extensive process and requires: a university undergraduate degree; post graduate certificate in real property valuation; two years of applied work experience; completion of a demonstration report; a final written exam; and a professional competency interview with an AACI designated member.

The AIC understands “market value” to be the agreed-on price by a willing seller and willing purchaser, both appropriately informed, acting in their own self-interest, not under duress, and that the price is fixed as at a specified date, in cash, or in terms equivalent to cash, after reasonable exposure time in a competitive market.

How your property is valued depends on the property type, and the requirements of your valuation assignment. There are three main approaches to value: Cost Approach, Direct Comparison Approach, and Income Approach.

The Cost Approach estimates the value of the land, combined with the cost of any improvements, less the depreciated value of the improvements.

The Direct Comparison Approach compares the subject property to other similar properties in similar markets that have recently sold. Appropriate adjustments are applied for differences between the subject property and the comparable sales.

The Income Approach derives an estimate of value based on the net income a property produces. Typically, lease rates, income, and expense data is analyzed, and the net operating income is determined. An appropriate capitalization rate is estimated based on the market data and the subject property, and these two figures are used to arrive at a value estimate for the property.

We hold ourselves to the strict, high standards of the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP), governed by the Appraisal Institute of Canada. We also uphold a Code of Professional Ethics, which our Appraisers renew every two years, assuring you of the highest level of objectivity and unbiased in the report.

High Rock Appraisal Group service coverage area includes Hastings, Northumberland, Lennox and Addington, and Prince Edward Counties. We will also complete large or specialized appraisals outside of these areas. If you’re unsure, give us a call and we will discuss how we can help.

Primarily multi-family, or for the purposes of litigation. Although we do not provide single family residential appraisals, we can help you connect with the right professional for your situation.

Our services cater to property owners, mortgage brokers, government bodies, lawyers, realtors, potential buyers and sellers, and individuals for various purposes such as property valuations, mortgage financing, taxation, estate settlements, and more.

No. All work is done on a strictly objective and unbiased basis and follows the strict ethical guidelines of the AIC’s Canadian Uniform Standards of Professional Appraisal Practice. Our reports can be relied upon in court proceedings.

No. All work is confidential and for the client’s information only. We are happy to provide a letter of reliance to a third party after receiving written permission and direction from our client.

At High Rock Appraisal Group, we are committed to providing expert valuations that are comprehensively researched, free of bias, and are clearly presented, paired with exceptional service that is catered to the unique needs of each of our clients.