Division of Assets Appraisal

When it comes to the division of assets during separation and divorce, a jointly-owned home is often the couple’s largest financial asset, which is why both parties must ensure the process is as fair and equitable as possible. At D. Fritz Appraisals Inc., we understand that a fast, accurate appraisal of your home’s market value is of vital importance, especially during this stressful time.

With over 40 years of experience in all aspects of the real estate industry in Victoria, BC, our professional team is dedicated to making the division of property assets as smooth as possible. Our appraisers are certified and in good standing with the Appraisal Institute of Canada (AIC), and maintain professional liability insurance according to the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) and the AIC.

Marital breakdown is not the only instance where a division of assets may occur, especially in the Victoria market where shared ownership with a friend or family member may be the most affordable way to buy a home. Life circumstances may arise where one or both parties wish to sell their share. Before the house is listed for sale, it’s important for both parties to have an independent appraisal to ensure the joint investment is divided according to current fair market value.

Retrospective Valuations

Property assessments are easiest when based on a home’s current value. But if the separation happened some time ago, our certified appraisers can determine what your home was worth retrospective to the date of separation. If one party made substantial improvements to the home after couple separated, our team will appraise the property’s value prior to the improvements.

Capital Gains

If you purchase your spouse’s share in your home during the divorce and you decide to rent out the home (or convert a portion of the home into a rental suite) it’s important to get an accurate appraisal before you start earning rental income. If you eventually decide to sell the house or reclaim it as your primary residence, the appraisal will help minimize the taxes you pay on the capital gains.

The same is true if you are selling property that earned rental income while you were still married. Perhaps you jointly owned an income property, or simply rented out the basement suite of your primary residence.  To minimize tax implications for both parties, you may need two appraisals: one for the current market value, and one retrospective to the day you started earning rental income, which could date back a decade or two. In this case, an appraiser with historic knowledge of local market trends is invaluable.

As one of Victoria’s longest standing appraisal firms, we offer expertise in market trends spanning many years, and can provide you with fast and accurate appraisals that ensure a fair division of assets no matter your circumstances.

Contact Us Regarding Division of Assets

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We’re Hiring!
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Job Title: AIC Candidate Appraiser

D. Fritz Appraisals Inc. is an established Real Estate Appraisal company that has been part of the Capital and Cowichan Valley community since 1998. We are excited to announce our company is ready to grow again and are searching for an AIC Candidate Appraiser to join our busy team to expand up-island in Nanaimo and the surrounding area.

The position available will be an independent contract, with a commission-based fee split. The successful Candidate will work under and be mentored by our AACI designated Appraiser. Our small team also consists of a CRA designated Appraiser (owner), three other AIC Candidates, and two Office Administrators. This is a work from home position, with an online virtual office to maintain and encourage communication and teamwork within the company. All computer software will be provided.

Responsibilities Include:

·      Perform on-site inspections, ensuring measurement accuracy, taking photographs and data collection;

·      Pull comparable sales and assign values to complete appraisal reports efficiently;

·      Meet turnaround times to ensure client satisfaction;

·      Develop relationships with lenders, brokers, clients, and other members of the public;

·      Continuously improve their knowledge regarding cost, market, and valuation trends;

·      Abide by all company policies and procedures­­­;

·      Attend staff meetings as required.

Qualifications Needed:

·      Valid Driver’s License and driving record that meets company standards

·      Clean Criminal Record check

·      A keen interest and knowledge of Vancouver Island’s real estate market

·      Registered Candidate Appraiser with the Appraisal Institute of Canada (AIC)

·      Must have proficient writing skills, be thorough and attentive to detail

Please forward a PDF copy of your resume and cover letter to [email protected].