Midtown Appraisal Group

05/26/2026

Lease negotiations: Sometimes it's about what you don't say, not just what you do say. https://ow.ly/b6vK50Z3HBh

Careful What You DON’T Say A recent Ontario Court of Appeal decision raises questions about the availability of common law and statutory rights in lease negotiations. Building By Daoust Vukovich LLP Last updated Mar 31, 2026 Negotiating a contract (including a lease) is done against the backdrop o...

05/25/2026

Appraisers: What's the difference between AACIs and CRAs?

Banks and other finance companies want to know that their investment will be safe – that there’s sufficient equity in your property to cover them in the event that you default on your loan. So they need to know just how much the property would be worth if it were sold on the open market.

While, in some cases, the bank will accept an appraisal from a local real estate agent, they generally prefer to have appraisals done by appraisers who have been certified by the AIC (Appraisal Institute of Canada). AIC-certified appraisers are professionals who have to meet high standards of knowledge, professionalism, ethics and experience, so their valuations are generally considered to be more objective and accurate.

There are two AIC certifications:

CRA: Certified Residential Appraiser. CRA-certified appraisers can appraise residential properties and land or lots designated for residential development. These valuations are readily accepted by banks, other financial institutions and legal firms – but generally only for residential properties.

AACI: Accredited Appraiser Canadian Institute. Appraisers with the AACI designation can appraise any type of property, including residential homes, commercial, industrial and agricultural properties, with machinery and equipment. These appraisals are also readily accepted by banks, financial institutions and legal and financial firms.

What about my real estate agent? They say they can value my property.
Real estate salespeople and brokers can often have significant knowledge about properties in a specific neighbourhood or area, and the best ones are up-to-date on what the current market is doing. They can be useful when it comes to providing a provisional pre-sale value if you’re looking for an approximation or if high-ratio financing isn’t dependent on the value. However, real estate professionals don’t have a fiduciary duty to provide objective valuations, and they aren’t always sufficiently knowledgeable to provide a detailed analysis about agricultural, commercial or industrial properties. This can cause challenges when it comes to legal matters later.

Regardless of the appraiser the bank chooses to value your home, the basic process is the same: The appraiser will visit your property, take a good look (and photographs) inside and out, and then compare your home with others which have recently sold in the neighbourhood in order to determine the market value for your property.

05/04/2026

What are appraisers really looking for when they’re walking around your property, making notes on their clipboard or tablet?
It’s important to remember that appraisers are looking to arrive at a value of the home given ‘average’ circumstances. They’re not valuing the home based on what the ‘ideal buyer’ (the one who’ll take one look at your peony garden and fall in love with the place) or the ‘hard-nosed buyer’ (the one who sees a bit of chipping paint on a doorframe and tries to drive a hard bargain) might be willing to pay.
Appraisers are trying to establish a value of the home based on current market conditions, the typical buyers in your neighbourhood, and what a ‘normal’ person might pay.
Property size and land value
Appraisers will look at the size of your property compared to others in the neighbourhood: If your lot size and landscaping is about the same as all the others on your street, then the value will be similar; if your property is the smallest on the street, the value might be discounted; if it’s the largest on the street, the value might have a premium. In more rural areas, acreage and zoning will be examined.
House size (with emphasis on bedrooms and bathrooms)
While the overall size of a house will definitely affect its value, a 2000 square foot home with only 2 bedrooms will generally be worth less than a 2000 square foot home with 3 or 4 bedrooms (all else being equal).
Bathrooms contribute similarly to the value of a home: All things being equal, a 1500sqft home with 2 bathrooms will be worth more than a 1500sqft home with 1 bathroom because the perceived utility of the 2-bath home is higher.
Plumbing and electrical
Your house’s mechanical systems, like plumbing, heating and electrical systems, are big factors in the value of your home. Appraisers are checking to make sure that your electrical system is adequate for the home; that the plumbing and septic systems are in good working order; and that a new buyer isn’t going to be saddled with the need for a new furnace.
Decor and design (to a certain extent)
Again, an appraiser is tasked with finding a valuation for the ‘normal’ buyer. When it comes to interior design and decor, this means asking the question: “What would the average buyer think of the look of this place, and how much work will they have to do to make it liveable for themselves and their family?”
Valuation for interior design and decor is most noticeable in things like kitchens, bathrooms and flooring.
There’s an X factor – but it shouldn’t be counted on.
Ultimately, your appraiser is going to look at your home, including the factors above, and then compare it to other properties in the area which have recently sold, in order to come up with an ‘average’ value.
That doesn’t mean that appraisers are blind to the notion of an X factor: The buyer who has always loved your home and wants to buy it for a premium, even with the lime green walls. Or the couple who want to live close to their parents so they buy the home two doors down and never look at their other options.

04/30/2026

When appraising a home, how do you put a value on solar panels? https://www.mckissock.com/blog/appraisal/faqs-appraising-solar-panels/

Get answers to common questions about appraising solar panels, plus info on how to increase your competency in this growing appraisal niche.

04/29/2026

What can you negotiate when you're buying a home - and what can't you negotiate? https://ow.ly/YvI150YQTwP

You probably already know you can negotiate the price of a home when making an offer to purchase, but there are many other things that can save you time or money before you take possession. However, there are also a number of things you should probably never ask a seller for—unless you want to tan...

04/28/2026

It’s a common situation: An elderly parent dies, leaving behind a spouse, adult children and young grandchildren. The family home is owned outright, or has a small mortgage, and everyone assumes that the home will be sold and the proceeds divided. Simple, right? After all, there’s a straightforward Will and no one’s arguing.
Except that when there is a surviving spouse, and/or step-children, and the Will turns out to be a little more vague than it should have been, that ‘family home’ can become a real source of confusion and conflict at one of the worst times in a person’s life.
Here’s we’ve put together answers to some of the questions we’re asked most often about estate-related real estate valuation.
Do I really need an appraisal? Why?
Yes. Unless the property is worth less than a few thousand dollars (unlikely here in Ontario), or there is only a single next of kin who is a beneficiary (also very unusual) and therefore little chance of the estate being contested, any real estate properties should be properly appraised and the reports provided to the estate.
Why is an official documentation of the value so important?
Well, it goes a long way to preventing conflict between siblings or other beneficiaries when the property is sold by providing a neutral value that can be used in the event one beneficiary wants to buy the other(s) out or when a purchase offer is received and the beneficiaries are determining whether to accept or reject that offer.
Is it okay to get a real estate agent to do the appraisal?
Generally speaking, no. Whenever there are Wills and Estates involved, there tend to be lawyers and banks involved as well, and if the situation gets contentious, it could end up in court.
A report by a certified appraiser (CRA or AACI) will always be given more weight in any legal proceedings because they are considered to be highly-trained, unbiased valuators who have no stake in the value of the property they’re assessing. Additionally, the CRA and AACI designations carry with them certain duties and responsibilities that can affect their professional standing.
But the real estate person said they’d do it for free. Aren’t appraisers expensive?
Real estate agents offer ‘free’ valuations because they hope to list the property once the estate is settled, and that means their valuation can’t be unbiased. A residential appraisal by a certified appraiser is generally less than $500 in Ontario – and is likely to save you a lot of lawyers’ time later on.
Who should choose the appraiser?
If there is any possibility of conflict with the estate – and even if there isn’t – it’s often prudent to let the lawyer or bank handling the estate help you choose an appraiser. They can provide you with a list of, say, 3 certified appraisers they recommend and then you can select one of them. Again, this helps the process stay as emotionally neutral as possible.

03/23/2026

Monday dreaming: You can definitely rent that Muskoka cottage from Heated Rivalry! https://ow.ly/TmTB50Yw9GV

03/23/2026

Ever find yourself enmeshed in economic news out of the US and wondering what it means for Canadian real estate? Here are some insights: https://ow.ly/apL650Yw9Fs

03/22/2026

Toronto's industrial real estate market: What 2026 might bring. https://ow.ly/RGJV50Yw9EH

03/21/2026

If you bought your first home last year, this could be important: If you purchased a home in Canada for the first time, you may be eligible to receive a tax rebate worth thousands. The new first-time homebuyers’ (FTHB) GST/HST rebate is designed to make homes more affordable by offering a full or partial tax refund of the GST (or the federal part of the HST) paid on newly constructed or substantially renovated homes. https://ow.ly/G0f650Yw9Ee