Aliu IsaTHE 5 BEST REAL ESTATE APPRAISAL COMPANIES IN TORONTO
Real estate appraisal (or property appraisal) is the process of estimating the market value of a property using objective and unbiased professional judgment. In simpler terms, it’s like turning your property into cold, hard figures.
Certified appraisers perform these assessments by conducting thorough inspections of properties and analyzing and comparing relevant data. These appraisals provide valuable guidance to stakeholders in making informed decisions during real estate transactions. Whether you're buying, selling, mortgaging, or refinancing a property, these experts can eliminate the guesswork by providing accurate appraisals.
How We Chose the Best Real Estate Appraisal Companies in Toronto
How Much Do Real Estate Appraisals Cost in Toronto?
A home appraisal within the GTA will cost around $500 to $700. The cost of an appraisal varies with the type of property, industry, and use
1. Appraisal Hub Inc.
Appraisal Hub Inc. has become one of Toronto’s go-to companies for property appraisal since its launch in 2016. CEO Liran Tal spent six years in home inspection and valuation before establishing this full-service appraisal company in Richmond Hill. They serve over half of the GTA, including Bowman and Courtice.
With a team of 13 skilled appraisers, Appraisal Hub Inc. provides accurate, unbiased, and prompt reports to a diverse clientele, ranging from individuals to financial firms, lenders, corporations, and law firms. Notable clients include Manulife Financial and the popular Toronto brokerage Butler Mortgage.
The company offers comprehensive appraisals for residential, commercial, and industrial properties, catering to various needs such as properties under construction, estate or divorce settlements, litigation support, asset review, and power of sale. Clients can choose between full-service appraisals or opt for drive-by reports, which involve a quick exterior inspection and a summarized report.
Pros
- Trusted by several financial firms and brokerages
- Thorough full-service inspection
- Responsive from start to finish
- Appraises a wide range of properties
- Multiple AIC-designated members
Cons
- Few complaints of report errors
- Unavailable on weekends
Customer Reviews
They were very prompt, professional, and respectful given the situation
“I requested Appraisal Hub Inc services after the passing of my father to do an estate appraisal. They were very prompt, professional, and respectful given the situation. They attended very quickly and completed the full appraisal one day before promised, I would definitely use them again and highly recommend them.” – Steve Perkins, Google Reviews
The quality and attention to detail in the report were of a very high standard
“Very professional team and great service standard. Their communication and support were excellent. I would always recommend Liran and his team. Evelyn, who worked on my appraisal report, was very good to work with. The quality and attention to detail in the report were of a very high standard. All my questions were satisfactorily and promptly answered. I have no complaints at all.” – Harmeet Sahni, Google Reviews
2. Sharp Appraisal & Consulting
Lorenzo Presutti, founder of Sharp Appraisal & Consulting, brings over 30 years of researching the residential market in the GTA. With a strong real estate background, he established his business in Vaughan alongside a team of appraisers. They’ve been providing appraisal and real estate consulting to the public and private sectors for seven years.
Despite primarily consisting of AIC candidates working towards their designation, Sharp lives up to its name by delivering meticulous documentation for commercial and industrial properties. They boast a 24 to 48-hour turnaround time and competitive rates, earning them the trust of lenders like Home Trust, Equitable Bank, and Tribecca Finance.
The company also offers dedicated family services for residential properties, taking into account significant life transitions such as pre-nuptial agreements, marriage, divorce, and death. They are also capable of accommodating rush orders and producing multiple reports simultaneously for the same client.
Pros
- Affordable and competitive rates
- Highly-detailed and complete reports
- Dedicated family services
- Long operating hours
- Consistent lines of communication
Cons
- Only one CRA-designated appraiser on staff
Customer Reviews
Definitely ‘sharp’ in terms of accuracy
“As the name of the organization entails, those on the team are definitely ‘sharp’ in terms of accuracy, and the understanding of the value of the houses they are appraising. Lorenzo, Vladimir, Adam and team are so professional and courteous. The turnaround time was short yet they were able to provide in-depth analysis. I highly recommend them.” – Sal Florio, Google Reviews
Always received great customer service with quick turnaround times on reports
“As a mortgage agent, I’ve been dealing with Sharp Appraisals for the past few years on a regular basis. I’ve always received great customer service with quick turnaround times on reports. I would gladly recommend them to clients, family, and friends!” – Darshan Sritharan, Google Reviews
3. E-Valuate Appraisal Services
E-Valuate Appraisal Services was founded by the late Chaitanya Patel, a real estate appraiser based in Markham. He left behind a legacy of 20 years of expertise in real estate, which his team of seven continues to carry on to this day. Like their leader, they also uphold the client-oriented values he instilled since the company’s establishment in 2012.
The company specializes in residential and commercial appraisals, particularly in the areas of assessment appeals, relocations, mortgage appraisals, litigation, and power of sale appraisals.
Notably, the team at E-Valuate demonstrates proficiency in utilizing various tools and resources, such as TREB, GIS Mapping, and WinTotal software to produce detailed estimations. As a result, they have gained the trust and approval of private lender clients, including the Royal Bank of Canada, CIBC, and Brookfield Relocation Services.
Pros
- Offers both full and drive-by reports
- Well-versed with multiple real estate software
- Produces quick and accurate reports
- Over 10 years established
- Empathic towards family-related appraisals
- Available daily
Cons
- Doesn’t specialize in industrial appraisals
Customer Reviews
This one is the most down-to-earth and affordable
“Like many other Appraisal companies that do the same job this one is the most down-to-earth and affordable… These people treated me with respect and offered me the same service at a very good cost. They were so nice and professional and even understood my schedule and accommodated me for the appointment. Excellent people. Excellent business experience.” – Eric Lauermeier, Google Reviews
The appraisal was thorough and detailed to ensure it met our goals
“E-Valuate services are exceptional for appraisal services. I had our home appraised for finances and planning. The team was very professional. The appraisal was thorough and detailed to ensure it met our goals. They answered all our questions. Would recommend their services and will use other services in future.” – Saurabh Patel, Google Reviews
4. Exclusive Property Appraisals Inc.
Located in North York, Exclusive Property Appraisals Inc. (EPA) specializes in residential appraisals across the GTA. The firm was founded in 2012 by Michael D. Arnone, a certified appraisal reviewer. In addition to being a Designated Appraiser Residential, he possesses a background in urban and regional planning, providing him with an enhanced perspective of Toronto’s real estate landscape.
EPA’s agile team focuses primarily on residential appraisals, delivering impartial and fair assessments for various types of residential properties, ranging from single-family homes to multi-unit complexes. They collaborate with a diverse range of stakeholders, including lawyers, accountants, and brokers.
The firm specializes in appraisals for estate and matrimonial settlements, capital gains assessments, and mortgage financing. It’s a trusted advisor to prominent clients such as the Canadian Imperial Bank of Commerce, MCAP, and HSBC Canada.
Pros
- In business since 2012
- In good standing with the Toronto Real Estate Board (TREB)
- Extensive knowledge of Toronto City neighborhoods
- Provides comprehensive market analysis
Cons
- Not scaled for commercial and industrial appraisals
- Small team of appraisers
Customer Reviews
Communication was great and the final report is very professional
“Michael was great to deal with! I needed a capital gains assessment completed on very short notice and he was able to accommodate my request. Communication was great and the final report is very professional. I wouldn’t hesitate to use EPA going forwards.” – Collin Beattie, Google Reviews
They were fast, friendly, and kept me informed along the way
“I was recommended Exclusive Property Appraisers and they didn’t disappoint. They were fast, friendly, and kept me informed along the way. I would use them again for sure and I would recommend them to others.” – Bruna Di Iorio, Google Reviews
5. Westview Appraisal Services
Like the name suggests, Westview Appraisal Services serves the western side of the GTA. This Mississauga-based firm has been operating since 2004, making it one of the longer-standing players in the industry. Remarkably, they’re a family-owned and operated business, founded by professional appraiser Frank Vrdoljak, who’s been a member of the AIC for 25 years. His wife, Marianne Vrdoljak, is the office manager, overseeing daily operations and accounts.
Their close-knit team of AIC-qualified appraisers and property consultants focuses mainly on residential properties. They handle a diverse range of residential appraisals, including those related to divorce settlements, probate, litigation, mortgages, insurance claims, and tax assessments.
Using direct comparison and cost approaches, Westview provides reliable residential appraisals based on comparable properties and market trends. They also offer appraisals for multi-unit dwellings and serve a clientele of law firms and lenders such as Vella and Pratt Lawyers and the National Bank of Canada.
Pros
- Proven track record of 20 years
- Member of multiple real estate organizations
- Appraisers are all AIC members
- Carry Errors & Omissions insurance
Cons
- Limited up to four-unit dwellings
- Doesn’t offer commercial and industrial appraisals
Customer Reviews
Nothing short of fantastic
“Frank is nothing short of fantastic. His professionalism and proactive diligence has always been valuable throughout my 20-year career as a broker and helped make my job that much easier. Always a first-class experience!” – Anthony Spadafora, Google Reviews
Professional, experienced, detailed, and a pleasure to work with
“Frank is professional, experienced, detailed, and a pleasure to work with. He went out of his way to explore different scenarios and gather more details to establish an accurate valuation. I highly recommend him and his team for property appraisals in the GTA area.” – Husam Jandal, Google Reviews
