What is an estate appraisal?

An estate appraisal is a certified assessment of a property's fair market value, prepared for the purposes of estate settlement, CRA tax filing, probate fee calculation, or distribution among beneficiaries. It is prepared by a designated appraiser under CUSPAP standards and provides a defensible opinion of value.

When is an estate appraisal required in Ontario?

An estate appraisal is typically needed when filing the deceased's T1 terminal return to calculate capital gains, when applying for a Certificate of Appointment of Estate Trustee to calculate estate administration tax, or when beneficiaries need an independent valuation to divide the estate fairly.

What is a date of death appraisal?

A date-of-death appraisal is a retrospective valuation that determines what the property was worth on the specific date the owner passed away. This is different from a current market value appraisal. The appraiser researches historical comparable sales and market conditions as of that date to arrive at an accurate fair market value.

How much does an estate appraisal cost in London, Ontario?

Every estate appraisal is quoted individually, because the scope of work depends on the estate. The main factors are the size, type, and location of the property; whether the valuation is retrospective to the date of death, which requires additional historical market research; whether the estate includes more than one property; whether the property is still accessible for inspection; and how quickly the report is needed for a CRA filing or probate deadline. Contact us with the property address and the date of death, and we will provide a fixed-fee quote before any work begins.

How long does an estate appraisal take?

Standard turnaround is 5 to 7 business days from the property inspection. Retrospective valuations requiring extensive historical research may take slightly longer. Rush delivery is available for urgent filing deadlines — contact us to discuss your timeline.

What documents should I provide to the appraiser?

Helpful documents include the property deed or title, the date of death, any recent property tax assessments, details of renovations or improvements, previous appraisal reports, and any legal documents related to the estate. The more information you can provide, the more accurate the valuation will be.

Can I use an old appraisal for estate purposes?

Generally, no. CRA and Ontario courts require that appraisals reflect the fair market value at the relevant date — typically the date of death. An appraisal completed for another purpose or at a different date will not meet these requirements. A new, purpose-specific appraisal is recommended.

What is the difference between an appraisal and a property tax assessment?

A property tax assessment from MPAC in Ontario is a mass-produced estimate used to calculate property taxes. It is not a precise opinion of fair market value and carries significantly less weight with CRA or the courts compared to a certified appraisal. MPAC assessments can differ significantly from actual market value — which is why executors, lawyers, and accountants rely on independent certified appraisals for estate settlement.

Do I need separate appraisals for multiple properties?

Yes. Each property in the estate requires its own appraisal. If the estate includes multiple residential properties, for example a home and a cottage, we can prepare appraisals for all of them and coordinate the process for efficiency.

Certified Estate & Probate Appraisals

Accurate date-of-death valuations for executors, estate lawyers, and families. CRA-compliant reports for probate, tax filing, and estate settlement.

Certified Estate & Probate Appraisals You Can Count On.

Losing a loved one is difficult enough without the burden of navigating complex tax and legal requirements. As an executor, you have a fiduciary responsibility to establish the fair market value of every property in the estate — and getting it right protects you, the beneficiaries, and the estate itself.

Riverbend Appraisals provides certified, CRA-compliant estate appraisals to help you fulfil your obligations with confidence. We work closely with executors, estate lawyers, and accountants across London and Southwestern Ontario to deliver accurate valuations on the timelines that estate administration demands.

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An estate appraisal is a certified assessment of a property’s fair market value, prepared for the purposes of estate settlement, CRA tax filing, probate fee calculation, or distribution among beneficiaries. It is prepared by a designated appraiser under CUSPAP standards and provides a defensible opinion of value.
An estate appraisal is typically needed when filing the deceased’s T1 terminal return (to calculate capital gains), when applying for a Certificate of Appointment of Estate Trustee (to calculate estate administration tax), or when beneficiaries need an independent valuation to divide the estate fairly.
A date-of-death appraisal is a retrospective valuation that determines what the property was worth on the specific date the owner passed away. This is different from a current market value appraisal. The appraiser researches historical comparable sales and market conditions as of that date to arrive at an accurate fair market value.
Every estate appraisal is quoted individually, because the scope of work depends on the estate. The main factors are the size, type, and location of the property; whether the valuation is retrospective to the date of death, which requires additional historical market research; whether the estate includes more than one property; whether the property is still accessible for inspection; and how quickly the report is needed for a CRA filing or probate deadline. Contact us with the property address and the date of death, and we'll provide a fixed-fee quote before any work begins.
Standard turnaround is 5–7 business days from the property inspection. Retrospective valuations requiring extensive historical research may take slightly longer. Rush delivery is available for urgent filing deadlines — contact us to discuss your timeline.
Helpful documents include the property deed or title, the date of death, any recent property tax assessments, details of renovations or improvements, previous appraisal reports, and any legal documents related to the estate. The more information you can provide, the more accurate the valuation will be.
Generally, no. CRA and Ontario courts require that appraisals reflect the fair market value at the relevant date — typically the date of death. An appraisal completed for another purpose or at a different date will not meet these requirements. A new, purpose-specific appraisal is recommended.
A property tax assessment (from MPAC in Ontario) is a mass-produced estimate used to calculate property taxes. It is not a precise opinion of fair market value and carries significantly less weight with CRA or the courts compared to a certified appraisal. MPAC assessments can differ significantly from actual market value — which is why executors, lawyers, and accountants rely on independent certified appraisals for estate settlement.
Yes. Each property in the estate requires its own appraisal. If the estate includes multiple residential properties (for example, a home and a cottage), we can prepare appraisals for all of them and coordinate the process for efficiency.