Settling an Estate
Settling an estate is an important and sometimes stressful job. As an executor you have been entrusted to carry out the wishes of the deceased as swiftly and exactly as possible. You can count on us to act quickly and with sensitivity to the feelings of everyone involved.
Attorneys and Accountants rely on our values when calculating real property values for estates, divorces, or other disputes requiring a value being placed on real property. We understand their needs and are used to dealing with all parties involved. We provide appraisal reports that meet the requirements of the courts and various agencies.
Settling an estate usually requires an appraisal to establish Fair Market Value for the residential property involved. Often, the date of death differs from the date the appraisal is requested. We are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of death. The ethics provision within the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Government Taxation / Capital Gains
With the popularity of purchasing real estate appraising real property is a common appraisal service type. Our team appraisers will provide an accurate and unbiased value for real estate that requires valuation for capital gains purposes.
Are you moving to another country or moving to another property and renting your home, a capital gains value is required at the time renting your home? Even if you have rented your home from a previous date, our team of appraiser will provide you with an accurate retrospective appraisal of your home value at the time you moved out and rented the home.
MPAC in Ontario determine your property tax burden based on an ad valorem assessment of the property’s value. Sometimes, as a property owner, you get an unwanted surprise in the mail telling you your taxes are going up, and sometimes it may seem as though your assessment is too high.
Often, matters like this can be resolved with a phone call. However, if after discussing your assessment with your local taxing authority you still feel as though your property was overvalued, a professional, independent, third-party appraiser is often your best bet in proving your case. That’s where we come in.
There are as many different procedures for appealing assessments as there are property taxing districts, so it’s important to enlist the help of a professional appraisal firm that’s experienced and trained in the ins and outs of your particular jurisdiction.
Estate planning for real estate properties area is essential to Estate Planning. Investment properties, cottages are types of investments that a create future taxation for any future estate. With the advice of your accountant consultant our appraisal team will provide any current or retrospective real estate valuations as a result in your Estate Planning.
Bona Fide Appraisals Inc., serving the Greater Toronto Area: Burlington, Waterdown, Oakville, Milton, Mississauga, Brampton, Toronto, Richmond Hill, Aurora, Vaughn, Pickering, Oshawa, Hamilton and more.