2026 Complete Guide
How the Home
Appraisal Process Works
A step-by-step guide to professional property valuations in Ontario
Mushtaq Khan, CRA, P.App.
Last Updated: January 4, 2026
What is a Professional Appraisal?
For most Canadians, real estate represents their most significant financial asset and is often the cornerstone of family wealth, long-term security, and intergenerational planning. Whether the property is a principal residence, an investment unit, or part of an estate portfolio, understanding its true market value is essential for making informed, defensible, and financially sound decisions.
A professional appraisal is an independent, unbiased, and well-supported opinion of value prepared by a qualified appraiser in accordance with the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP), as adopted by the Appraisal Institute of Canada (AIC). Unlike automated estimates or informal opinions, a professional appraisal is grounded in evidence, methodology, and accountability.
More Than Just a Number...
A credible appraisal is far more than a number. It is the outcome of a structured, analytical process that examines current market data, property-specific characteristics, neighbourhood trends, and broader economic conditions. The final value estimate reflects the appraiser's professional judgment as of a specific effective date, recognizing that real estate markets are dynamic and influenced by the actions of informed buyers and sellers in an open marketplace.
While no valuation can claim absolute precision, a professionally developed appraisal provides the most reliable foundation for decisions involving taxation, legal matters, financial planning, and risk management.
The Value of Professional Judgment
A professional appraisal protects clients by providing clarity, transparency, and defensible analysis.
The Appraisal Process
Initial Consultation
We begin by understanding your specific needs—whether it's for tax purposes, estate settlement, divorce proceedings, pre-listing, or purchase decisions. We'll clarify the intended use, identify the property type, discuss any unique circumstances, confirm the effective date of value, and provide a transparent fee quote with no hidden costs.
Schedule Appraisal Appointment
We coordinate a convenient appointment time that works with your schedule. Prior to the visit, we gather preliminary information including legal descriptions, tax records, and any relevant documents you can provide such as surveys, renovation receipts, or previous appraisals.
On-Site Property Visit
A comprehensive inspection covering 20+ factors: room dimensions, layout, construction quality, foundation, roof condition, electrical, plumbing, windows, flooring, kitchen and bath finishes, basement development, landscaping, curb appeal, site improvements, workmanship quality, functional utility, and overall property condition.
Market Research & Analysis
We identify and analyze comparable sales in your area, researching each property's features, improvements, sale conditions, and market exposure. Detailed adjustments are made for differences in size, age, quality, location, upgrades, and market trends.
Report Preparation
Your appraisal report is carefully prepared following CUSPAP standards. This includes detailed property descriptions, neighbourhood analysis, comparable sales data with adjustment grids, supporting photographs, site sketches, and a thoroughly reasoned opinion of market value as of the effective date.
Report Delivery
Your completed appraisal report is delivered electronically in PDF format. We review the key findings with you, explain the methodology and comparable sales used, and remain available to answer any follow-up questions from you, your lawyer, accountant, or other authorized parties.
Book
Visit
Research
Delivered
Need it faster? Rush service available for 24-48 hour turnaround.
How Appraisers Determine Value
To ensure accuracy and relevance, appraisers rely on established valuation methodologies. Depending on the assignment type and scope of work, the appraisal may incorporate one or more of the following recognized approaches. Each approach offers a different perspective, and the appraiser's expertise lies in determining which methods are most appropriate for the specific assignment.
Direct Comparison Approach
The most commonly used method for residential properties. Estimates value by comparing the subject property to recent, relevant market sales and adjusting for differences in features, condition, and market behaviour.
Cost Approach
This method considers the cost to replace the property's improvements, less depreciation, and adds the value of the underlying land. It is particularly useful for newer homes, custom builds, or properties with limited comparable sales.
Income Approach
Primarily applied to income-producing properties. Evaluates the property's ability to generate revenue and converts anticipated income streams into a present value indication.
CUSPAP 2024
Canadian Uniform Standards of Professional Appraisal Practice
About CUSPAP
First introduced in January 2001 and revised every two years, CUSPAP respects the expanding role of the valuation professional within the Appraisal Institute of Canada (AIC).
The current version, CUSPAP 2024, became effective January 1, 2024.
All assignments completed on or after January 1, 2024, including retrospective assignments, must comply with CUSPAP 2024.
Accepted By
CRA
Canada Revenue Agency
Courts
Legal Proceedings
Banks
Financial Institutions
Insurance
Insurance Companies
Code of Professional Conduct
Professional Conduct
Hallmarks of a respected, trusted self-regulated organization
Fair & Unbiased
Services provided in a manner not detrimental to the public
Courtesy & Good Faith
Interactions governed by impartiality and professionalism
Members comply with AIC By-laws, AIC Consolidated Regulations, and Canadian Uniform Standards of Professional Appraisal Practice.
When You Need an Appraisal
Professional valuations are essential when decisions carry legal, tax, or financial consequences
Capital Gains Tax
Property valuations for CRA tax reporting when selling real estate or changing property use.
Divorce & Separation
Fair market value assessments for equitable division of matrimonial assets.
Estate & Probate
Property valuations for estate settlement, inheritance division, and probate proceedings.
Mortgage Financing
Appraisals for mortgage qualification, refinancing, and private lending.
Litigation Support
Expert witness testimony and court-ready appraisal reports for legal disputes.
Pre-Listing/Pre-Purchase
Know your property's true market value before buying or selling.
AIC Designated Professional
Mushtaq Khan
Canadian Residential Appraiser | Professional Appraiser
With over 18 years of experience in the Greater Toronto Area real estate industry, Mushtaq has been a good-standing real estate broker member of the Toronto Real Estate Board since 2004 and a residential appraiser with the Appraisal Institute of Canada since 2016.
As a designated residential fee appraiser, his mission is to make a positive difference in people's lives through accurate, reliable valuations. He has accredited experience on all types of residential appraisals throughout Toronto, Mississauga, Brampton, Oakville, Vaughan, and across the GTA.
The Alpha Difference
Real property is often the most valuable component of your financial portfolio. Our reports are developed to withstand the highest levels of scrutiny from the CRA, courts, and financial institutions.
Independent & Unbiased
Our reports are independent expert opinions with no conflicts of interest, unlike estimates from agents or online tools.
CUSPAP Compliant
Every report follows Canadian Uniform Standards of Professional Appraisal Practice, accepted by CRA, courts, and lenders.
20+ Years Experience
Deep expertise in GTA real estate markets with thousands of successful valuations completed.
Common Questions
How long does a home appraisal take?
The on-site visit typically takes 1 hour or more. The complete process from scheduling to receiving your report usually takes 3-5 business days. Rush service (24-48 hours) is available.
Are your appraisals accepted by the CRA?
Yes. All our appraisals are completed by AIC-designated appraisers and comply with CUSPAP standards. Our reports are fully accepted by the Canada Revenue Agency, courts, and financial institutions.
Can you appraise for a past date?
Yes. Retrospective appraisals determine value at a specific past date. This is commonly needed for capital gains tax, estate settlements at date of death, or legal matters.
How is my home's value determined?
We analyze 3-10 recent sales of similar properties in your area using the Direct Comparison Approach, making adjustments for differences in size, condition, features, and location.
Serving the Greater Toronto Area
Ready to Get Your Property Appraised?
Professional, CUSPAP-compliant appraisals with 3-5 day turnaround. Free consultation available.
(416) 450-2336