Listen to the importance of certified real estate appraisals and how they can apply to you.
The Complete Home Appraisal Guide
What Toronto Property Owners Need to Know
A home appraisal is the unbiased assessment of your property's market value by a certified professional.
Required for mortgage applications, divorce, estate settlement, and capital gains tax reporting.
Cost: $700-$1,500+ depending on property type and complexity. Learn more.
Always choose an AIC-designated appraiser for CRA compliance and court acceptance.
In Ontario's competitive and fast-moving real estate market, a professional home appraisal in Toronto is essential. Whether you own a downtown condo or a suburban detached home, knowing the true market value of your property is critical. A home appraisal goes beyond online estimates—it provides an unbiased, certified valuation that can protect you in major financial and legal decisions.
What Exactly Is a Home Appraisal?
A home appraisal is an independent, unbiased estimate of a property's fair market value, conducted by a certified appraiser. Unlike online estimates or real estate agent opinions, a professional appraisal is a detailed, defensible valuation based on:
Crucially, reports from an AIC-designated appraiser are accepted by banks, lawyers, and the Canada Revenue Agency (CRA).
Why You Need a Home Appraisal in Ontario
An appraisal is more than a formality; it's a critical tool for various financial and legal situations. Here are the most common reasons you might need one:
Divorce & Matrimonial Settlements
Ensure a fair and equitable division of property during separation.
Estate & Probate Planning
Establish defensible property values for inheritance and tax reporting.
Capital Gains Tax Appraisal
The CRA requires a market-supported value when selling an investment property.
Retrospective Valuations
Determine a property's value as of a past date for legal or tax purposes.
Pre-Listing & Private Sales
Price your property accurately to inform negotiations and strategy.
Mortgage Financing
Lenders require an appraisal to verify the property's value before approving a loan.
Our Appraisal Process
We follow a clear, transparent process to ensure you receive an accurate and timely valuation. Here’s how it works from start to finish.
Engagement & Scope
Define the purpose of the appraisal and the effective date.
Property Inspection
Interior and exterior review, measurements, and condition assessment.
Market Analysis
Research comparable recent sales and adjust for differences.
Report Delivery
A detailed, CRA-compliant report with valuation conclusion.
Your Step-by-Step Guide to Getting an Appraisal
Our process is designed to be simple, transparent, and efficient. Follow these steps to get your certified report.
Contact a Designated Appraiser
Call Alpha Appraisals at (416) 450-2336 or email info@alphaappraisals.ca. Provide your property address and the purpose of the appraisal (divorce, estate, capital gains, etc.).
Receive Quote & Engagement Letter
You'll receive a detailed quote based on property type and complexity, plus an engagement letter outlining scope and timeline (typically 5-10 business days).
Schedule Property Inspection
Arrange a convenient time for the appraiser to inspect your property. The inspection typically takes 30-60 minutes and covers interior, exterior, and measurements.
Provide Required Documents
Supply any relevant documents such as property tax bills, recent renovations receipts, condo status certificates, or previous appraisal reports if available.
Receive Your CRA-Compliant Report
Your detailed appraisal report will be delivered electronically, including property photos, comparable sales analysis, and certified valuation conclusion.
What You'll Receive in Your Report:
- ✓Detailed property description and condition assessment
- ✓Comparable sales analysis with adjustments explained
- ✓Certified valuation conclusion with appraiser's signature
- ✓CRA-compliant format accepted by banks, lawyers, and courts
Cancellation Policy:
Once an appraisal order is confirmed and the Letter of Engagement (LoE) and invoice have been submitted, a partial fee will be payable to Alpha Appraisals within 72 hours if the client decides to cancel the request. This fee covers time spent on:
- •Reviewing the appraisal order details
- •Telephone consultations
- •Email correspondence
- •Preparation and issuance of the invoice and engagement documents
The partial fee ensures fair compensation for the professional time and administrative work completed prior to inspection or report preparation.
Professional Appraisal vs. Estimates
Not all valuations are created equal. Here’s a breakdown of the key differences between a certified appraisal and other common estimates.
| Aspect | Certified Appraiser | Online Estimate (AVM) | CMA by Realtor |
|---|---|---|---|
| Accuracy | High – Based on inspection & data | Low – Algorithm only | Biased – Commission-driven |
| CRA Accepted | ✅ Yes | ❌ No | ❌ No |
| Court Accepted | ✅ Yes | ❌ No | ❌ No |
| Probate & Estate | ✅ Required by law | ❌ Not accepted | ❌ Not accepted |
| Divorce/Asset Division | ✅ Court mandated | ❌ Not recognized | ❌ Not recognized |
| Pre-Listing Strategy | ✅ Unbiased market value | ❌ Inaccurate ranges | ❌ Inflated for listing |
| Capital Gains Tax | ✅ CRA compliant | ❌ Not acceptable | ❌ Not acceptable |
| Insurance Claims | ✅ Professional standard | ❌ Not sufficient | ❌ Not sufficient |
For legal, tax, or high-stakes financial purposes, only a certified appraisal from a designated professional provides the necessary accuracy and credibility.
How Much Does a Home Appraisal Cost?
Most residential appraisals in the GTA cost between $700–$1,500+, depending on property type, location, and complexity.
See Our Detailed Fee Guide
