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APPRAISAL REPORT 196, Coolbreeze Avenue Pointe-Claire (Quebec) N/dossier 628395E
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Page 1: APPRAISAL REPORT 196, Coolbreeze Avenue Pointe-Claire (Quebec) · 628395E Appraisal Report - 196, Coolbreeze Avenue, Pointe-Claire (Quebec) 3 On the following pages, you will find

APPRAISAL REPORT

196, Coolbreeze Avenue

Pointe-Claire (Quebec)

N/dossier 628395E

Page 2: APPRAISAL REPORT 196, Coolbreeze Avenue Pointe-Claire (Quebec) · 628395E Appraisal Report - 196, Coolbreeze Avenue, Pointe-Claire (Quebec) 3 On the following pages, you will find

December 6 2019

Ms. Naomi Lane

Coordinator – Planning Advisory Committee - Urban Planning

City of Pointe-Claire

451 Saint-Jean Boulevard

Pointe-Claire, Québec

H9R 3J3

Subject Demolition Assessment Report, covering the new and depreciated replacement cost,

as well as the estimated potential renovation costs of the building located at 196

Coolbreeze Avenue, Pointe-Claire, Quebec

O/File 628395E

Madam,

Following the contract you have given us, with reference to By-law PC-2818 concerning the demolition of

immovable property, we have estimated the new and depreciated replacement cost of the building

mentioned above. In addition, we have estimated the potential renovation costs of this building. Note

that these estimates will have to be validated with specialized contractors.

The property being appraised is a one and a half storey house, on a poured concrete foundation, built in

1947, based on information recorded on the City of Montreal's municipal assessment roll (2017-2018-

2019). The building is of economic quality and has a four seasons extension, on stilts. The living area is

945 square feet on the ground floor and 547 square feet on the 2nd floor, for a total of 1,492 square feet of

living space. Note that the house is vacant and that its interior components are in good condition, but

outdated and obsolete. Furthermore, several components are at the end of their useful life and will have

to be replaced, not to mention the many identified defects. The house resides on a uniform 13,156 square

feet of property, formed by four lots.

For information purposes, the property was sold on July 26, 2019, for $475,000, without legal warranty,

Registration Number 24,708,546 in the Quebec Land Registry.

Following our visit to the building, considering its general condition and referring to the conclusions of

Louise Coutu, architect, in her diagnostic inspection report (ref. file 2019-10-28-01), we came to the

following conclusions:

Replacement cost as new $222,000 (± $149/ft²)

Depreciated replacement cost (66% depreciation) $76,000

Estimated renovation cost $116,000

Page 3: APPRAISAL REPORT 196, Coolbreeze Avenue Pointe-Claire (Quebec) · 628395E Appraisal Report - 196, Coolbreeze Avenue, Pointe-Claire (Quebec) 3 On the following pages, you will find

628395E

Appraisal Report - 196, Coolbreeze Avenue, Pointe-Claire (Quebec) 3

On the following pages, you will find a brief physical description of the building being appraised,

photographs taken at the time of our visit on October 28, 2019, a detailed breakdown of the replacement

cost and estimated physical depreciation. You will also find an estimate of the cost of renovating this

building. It should be noted that at the time of the writing of this report, no bids from trade contractors

were available. Thus, the estimated amount for the renovation of the building must be interpreted with

reservations and supported by the appraisals of specialized contractors.

We hope that this will be in accordance with your wishes and to your complete satisfaction. Best regards,

PARIS, LADOUCEUR & ASSOCIÉS INC.

Joëlle Thauvette AACI, P.App.

Chartered Appraiser

JT/ac

att.: Expertise

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Subject photographs

Building front view

Building side view

Photographs taken on October 28 2019, by Joëlle Thauvette, AACI

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SUBJECT PHOTOGRAPHS (cont.)

Building rear view

Building side view

Photographs taken on October 28 2019, by Joëlle Thauvette, AACI

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Table of Contents

TITLE PAGE

INTRODUCTION LETTER

SUBJECT PHOTOGRAPHS ................................................................................................................................................................................ 4

TABLE OF CONTENTS ....................................................................................................................................................................................... 6

1 DESCRIPTIVE DATA .............................................................................................................................................................................. 7

1.1 DESCRIPTION OF THE REAL ESTATE ........................................................................................................................................ 7

1.2 TECHNICAL DESCRIPTION OF THE BUILDING ..................................................................................................................... 8

1.3 MUNICIPAL APPRAISAL ............................................................................................................................................................ 10

1.3.1 PROPERTY HISTORY ................................................................................................................................................................... 10

1.4 GENERAL BUILDING CONDITION .......................................................................................................................................... 11

2 ANALYSIS ................................................................................................................................................................................................ 14

2.1 BUILDING REPLACEMENT COST AND DEPRECIATION ................................................................................................... 14

2.1.1 DEPRECIATION MEASUREMENT ............................................................................................................................................ 14

2.2 ESTIMATED RENOVATION COST ............................................................................................................................................ 16

3 CONCLUSION ........................................................................................................................................................................................ 17

3.1 CORRELATION .............................................................................................................................................................................. 17

3.2 CERTIFICATION ............................................................................................................................................................................ 18

Tables

Table 1 – Replacement cost and depreciation ................................................................................................................................................... 15 Table 2 – Approximate renovating cost of the building .................................................................................................................................. 16

Appendices

Appendix A – Subject photographs

Appendix B – Certificate of location

Appendix C – Professional Qualifications

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Descriptive data 1

1.1 DESCRIPTION OF THE REAL ESTATE

ADRESS 196, Coolbreeze Avenue, Pointe-Claire

CADASTRAL DESCRIPTION Lots 4251618, 4256152, 4256153, 4256154 – Québec cadastre

TYPE OF PROPERTY One and a half storey residence of economic quality, on a poured

concrete foundation, with a four seasons extension, on stilts. The ground

floor is composed of a living room, a dining room, a kitchen, a bathroom,

a family room. The second floor includes two bedrooms and a complete

bathroom. The basement is partially finished.

YEAR OF CONSTRUCTION 1947 (based on the City of Montreal's appraisal roll)

ECONOMIC LIFE 60 years

ACTUAL AGE 72 years

APPARENT AGE 50 years

REMAINING ECONOMIC LIFE 10 years

GENERAL CONDITION Based on the inspection of the building as a whole, as well as the

diagnostic inspection report (ref. file 2019-08-30-01), prepared by Ms.

Louise Coutu, architect, we estimate that the physical condition of the

premises is below the average for its age, its interior components are in

good condition, but outdated. It should be noted that the building is

vacant, that several components are at the end of their useful life, that

several defects have been noted and should be corrected. We believe that

major renovations are needed to extend its economic life and to make the

property competitive in the market.

BUILDING SURFACE AREA

Ground floor 945 square feet (including the extension)

Second floor 547 square feet

Total 1 492 square feet

Basement 725 square feet (partially finished)

LOT AREA 13 156 square feet, of regular shape / rectangular (4 contiguous lots)

ZONING RA44

PUBLIC SERVICES The property benefits from all the services offered by the City of Pointe-

Claire (water supply, sanitary sewer, storm sewer, paving and lighting).

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1.2 TECHNICAL DESCRIPTION OF THE BUILDING

EXCAVATION Mass excavation

FOUNDATIONS Poured concrete

Stilts (rear extension)

FLOOR SLAB Poured concrete

FRAME Wood load-bearing walls

STRUCTURAL FLOORS Wooden structure

EXTERIOR WALLS Painted aluminum

Stone

Vinyl

Painted cardboard

DOORS AND WINDOWS Wood / aluminum patio doors

Steel doors with window

PVC casement windows

Sliding aluminum windows

Wooden casement windows

ROOF COMPOSITION Roof covered with asphalt shingles (2010)

Aluminum soffits

Mineral wool insulation

ELECTRICITY 200 A electrical inputs with circuit breaker

Incandescent lighting

HEATING / AIR CONDITIONING Electric baseboard

PLUMBING Copper, ABS, cast iron and steel

Cabinets (2)

Built-in bathtub

Freestanding sink

Cabinet sink

Washing tank

40 gallon electric water heater

60 gallon electric water heater (out of order)

Washer-dryer outlet (in the basement)

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1.2 TECHNICAL DESCRIPTION OF THE BUILDING (cont.)

WALLS AND PARTITIONS Painted plasterboard

Stucco

Ceramic

Fireplace brick

Wood paneling

Prefinished panels

FLOOR FINISHES Ceramic

Wooden slats

Carpet

Floating laminate

Exposed concrete slab in the basement

CEILING FINISHES Painted plasterboard

O-gee

Stucco

KITCHEN FINISHES Soft wood cabinet

Laminated counter

Steel sink

MISC. Dishwasher

Stove

Ceiling fan

OUTDOOR LANDSCAPING Paved driveway

Lawn

Mature trees

Shrubs

Wooden deck with privacy panels

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1.3 MUNICIPAL APPRAISAL

THREE-YEAR ROLE 2020-2021-2022

SERVICE NUMBER 8035-90-4644-0-000-0000

MARKET REFERENCE DATE 2018-07-01

LAND VALUE $332,400

BUILDING VALUE $126,700

PROPERTY VALUE $459,100

1.3.1 PROPERTY HISTORY

REGISTRATION NUMBER 24 791 771

SELLER Joan Patricia Myers Macnab

BUYER Giovanni Di Maria and Alexandra Batelli

SALE DATE 2019-07-26

SALE PRICE $475,000

COMMENTS Without legal warranty

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1.4 GENERAL BUILDING CONDITION

Following our on-site visit and with reference to the diagnostic inspection report (ref. file 2019-10-28-01),

prepared by Louise Coutu, architect, the following is a summary of the building defects that have been

identified. Please refer to the above-mentioned inspection report for the complete set of these defects.

Foundation and slab on the ground: we notice the presence of efflorescence and humidity at the

base of the foundation walls in the basement. It would be recommended to use a specialized

company to investigate and possibly waterproof the foundation, install a French drain and, at the

same time, insulate the foundation walls from the outside.

Also note the presence of minor cracks on the foundation walls and an opening, whose

waterproofing could be compromised. Plan to repair these.

Floor joists / load-bearing walls: we noticed notches in some joists that could lead to weaknesses.

Have the weak spots corrected where necessary by a carpenter.

We note that many floors are not level (rear extension, front floor, etc.). Have the structure checked

by an engineer. Ensure that the structure is stable before correcting the situation.

Traces of what could be mold are noted in the basement on the floor joists and decks. Perform a test

and plan the cost of cleaning if necessary.

We notice that the back wall of the floor is not square. Have the engineer investigate this wall and

carry out solidification work.

Roof structure: we notice traces of what could be mold on the roof deck. Perform a test and plan the

cost of cleaning if necessary.

Traces of water are noted, but could be dated back to before the roof was replaced. Monitor the

situation.

However, we observe that the roof structures are sagging. Have the engineer investigate the roof

structure and carry out the reinforcement work.

Exterior cladding: traces of water are observed on the foundation walls, probably due to a lack of

waterproofing of the wall cladding. The aluminium siding is poorly assembled. Plan to replace this

aluminum siding to ensure that the wall is waterproof. Also plan to correct the aluminum siding of

the skylights that are too close to the roof shingles.

The stone veneer of the front wall is cracked. Make the necessary repairs.

The painted paperboard cladding on the rear extension is in poor condition. Plan the complete

replacement of these wall coverings.

Flashing and sealing: the sealing joints have deteriorated in some areas and need to be redone.

Moreover, there would be no flashing above or below most openings (windows and doors). Install

aluminum flashings at the same time as the exterior siding.

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1.5 GENERAL CONDITION OF THE BUILDING (cont.)

Doors and windows: replace the front door frame, repair and repaint it.

Replace most of the double-glazed windows that are unsealed.

Repaint wooden windows from the outside to preserve them.

Replace most aluminum sash windows with collapsed sills.

Reinstall the basement window under the portico, which is too far to the exterior.

Replace the patio door lock.

Repair a second floor window crank handle.

Window wells: plan to redo the window wells when installing the French drain.

Front/Rear Terrace: Have guardrails installed around the rear terrace because the latticework is not

compliant. Also have a handrail placed on the stairs of the terrace.

Plan to replace the front concrete porch and stairs in the short term.

Exterior layout: plan to repair the front stone sidewalk, the joints of which need to be redone.

Roofing: Rear extension shingles are not recommended for this type of slope. Plan to replace the

shingles with an elastomeric membrane.

Gutters: there are no gutters on several roof overhangs. Install gutters and downspouts at the

bottom of each slope to prevent rainwater from accumulating near the foundation.

The slope of the rear gutter on the first floor is reversed. Try to restore an adequate slope to this

gutter.

Flashing and parapets: the counterflashing of the chimney does not seem to be in conformity. Water

infiltration was observed from the inside. Make the necessary correctives.

In addition, the counterflashing between the roof of the extension and the rear siding is poorly

installed. Please correct the situation when repairing the extension roof.

Plumbing : several small plumbing works need to be planned in order to optimize water

management properly. Replace the sealing washer on the shower button. It is also necessary to

provide for the installation of an anti-hammer under plumbing fixtures. The slope of the siphon arm

of the ground floor bathroom sink is reversed. Correct the slope. Attach the drain pipe of the

washing machine.

We observe that the lower portion of the drop column is rusty and, since the house is old, we

recommend that you inspect the sanitary pipe up to the municipal collector.

We notice traces of water under the toilet on the first floor. Check for leaks and have them repaired.

Note that no floor drain has been located. When inspecting the pipes, check for its location. If

necessary, have a drain installed. Plan to replace the hot water tank manufactured in 2009.

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1.5 GENERAL CONDITION OF THE BUILDING (cont.)

Electricity: install a socket outlet in the bathroom with protection (GFCI), as well as replace those in

the kitchen, outside and in the bathroom on the second floor for protective outlets.

Have the electrical panel and the aluminum cable connections checked. Install grounded electrical

outlets by a master electrician throughout the house.

Heating: have the antenna removed from the chimney.

Bathroom: replace ceramic tiles around the shower with damaged grout.

Floor: We suggest replacing the basement carpet for a mold-resistant covering. Replace improperly

glued ceramic tiles in the entrance area. Sand and varnish floor surfaces of damaged wooden slats.

Staircase: there is no handrail on the basement staircase. Furthermore, the headroom clearance of the

basement staircase is insufficient.

Wall and ceiling: we observe several cracks in the walls and interior ceilings. These cracks may be

related to the age of the building, but also to structural problems. Have the structure checked by an

engineer. Ensure that the structure is stable before correcting the situation.

Cupboard: several cupboard doors are missing in the kitchen. Considering that the installation is

old, plan to replace all the cabinets.

Water infiltration: Several signs of water infiltration have been noticed inside the house. See to the

necessary repairs (flashings, chimney, roof, window, etc.).

Asbestos: possibility of asbestos in old plasterboard, gypsum and decorative stucco. See a specialist.

We observe the presence of vermiculite in the attic. According to the information obtained, an

asbestos presence test has been carried out and would be negative.

Soil contamination: check for contamination of the soil or concrete slab from a leak in the oil line

from the old heating system.

Insulation and ventilation: We recommend installing a weather seal at the attic access hatch and

isolating it properly.

Ventilation: we suggest installing a bathroom fan on the ground floor, as well as a kitchen hood, to

evacuate humidity and smoke.

The building being assessed, which is of economic value, is in good general condition despite the fact that

most of its interior components are obsolete. Furthermore, some components are at the end of their useful

life and will have to be replaced. Subsequently, several defects in the building were noted and will need

to be corrected. We are of the opinion that major renovation work is necessary to extend its economic life

and make it competitive in the marketplace.

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Analysis 2

2.1 BUILDING REPLACEMENT COST AND DEPRECIATION

The replacement cost as new must be distinguished from the cost of reproduction and represents the cost

of replacing a building (and improvement) with one of equal value (based on current construction

standards and equivalent and commonly available materials).

The replacement cost of the building was estimated at $222,000 based on the Marshall & Swift Valuation

Services cost manual, published by CoreLogic. This value corresponds to approximately $149.00 per square

foot of living space.

2.1.1 DEPRECIATION MEASUREMENT

The application of the cost method includes the measurement of the various forms of depreciation and

obsolescence that cause a loss in value of the building, in relation to its value in new condition. The

various forms of depreciation are as follows:

Physical depreciation (curable or incurable)

Functional depreciation (curable or incurable)

Economic depreciation

Physical depreciation curable

Curable physical depreciation generally results from deferred maintenance, i.e., the need for a buyer to

carry out in the very short term the repairs or replacements required for the building to return to its

normal state of maintenance and become competitive again.

Physical depreciation incurable

Incurable physical depreciation is the general deterioration of building materials caused by the aging of

the building. Generally, it is the deterioration of building components that cannot be repaired at a cost

less than or equal to the increase in value caused by this repair. Incurable physical depreciation is

measured using the age-life method for each of the building's components, using the Marshall & Swift

table.

For the purposes of this report, we estimated the physical depreciation (curable and incurable) at 66%,

taking into account the general condition of the building. This indicates a depreciated building value of

$76,000. Note that this depreciation takes into consideration that the building is of standard quality, that

several components are at the end of their useful life and that several defects have been identified.

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2.1.1 DEPRECIATION MEASUREMENT (cont.)

Table 1 – Replacement cost and depreciation

Description Remplacement Cost Physical Depreciation (%)Depreciated

Replacement Cost

Foundations and Excavation $23 516 53% $11 010

Frame $7 430 65% $2 600

Floor Structure $18 979 65% $6 643

Floor Cover $12 516 73% $3 407

Ceiling $6 111 65% $2 139

Walls $3 879 65% $1 358

Interior Construction $43 503 65% $15 226

Plumbing $17 257 80% $3 451

Electricity $12 304 80% $2 461

Heating, Cooling and Ventilation $7 643 55% $3 440

Exterior Walls $45 789 65% $16 026

Roof Structure and Cover $14 862 62% $5 659

Miscellaneous $673 0% $0

Appendices (gallery, terrace, ramps) $7 521 69% $2 321

Total $221 984 66% $75 741

TOTAL (rounded) $222 000 66% $76 000

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2.2 ESTIMATED RENOVATION COST

At your request, we have estimated the potential renovation costs of the building, based on our visit and

with reference to the building's diagnostic inspection report (ref. file 2019-10-28-01), prepared by Louise

Coutu, architect. Note, however, that the estimated amount for this work is approximate and will have to

be validated with specialized contractors. Some hypothetical defects observed should be the subject of

more specific expert appraisals and are not included in the renovation costs (replacement of the sanitary

conduit, oil contamination, possible presence of mold, possible presence of asbestos, etc.).

Table 2 – Approximate renovating cost of the building

ITEMSESTIMATED

RENOVATION COST

French drain / waterproofing and insulations of foundations / cracks / window wells $8 000

Structural work (lump sum) $8 000

Replacement of aluminum siding, cardboard and flashings $10 000

Cracks in the front stone cladding $1 000

Double-glazed / replacement of six windows / reinstall a basement window / patio door lock $9 000

Front concrete staircase / guardrail of the terrace $1 000

Replacement of shingle for a membrane and counter-flashing (rear extension) $1 500

Gutters $600

General plumbing work and replacement of the water tank (lump sum) $4 000

General electrical work (lump sum) $3 000

Basement stair handrail $250

Floor: Replace ceramic tiles at the entrance, basement carpet, sand and varnish wood floors $5 000

Kitchen and bathroom (including hood and fan) $30 000

Finishing work (painting, moldings, interior doors, gypsum replacement, crack repair, etc.) $5 000

Miscellaneous (chimney counterfloor, stone sidewalk, remove antenna on chimney, seal access hatch, etc.) $1 500

SUBTOTAL $87 850

Contingencies (±15 %) $13 178

Subtotal $101 028

Taxes $15 129

TOTAL $116 156

TOTAL (ROUNDED) $116 000

We therefore estimate the cost of the renovations to be approximately $116,000 (including taxes and

contingency costs). Note that this amount does not include:

Possible decontamination of the soil in the form of heating oil (hypothetical work)

Possible removal of mold and asbestos (hypothetical work)

Replacement of the sanitary conduit (hypothetical work)

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Conclusion 3

3.1 CORRELATION

In conclusion, the replacement cost of the building was estimated at $222,000 based on the Marshall &

Swift Valuation Services cost manual, published by CoreLogic.

Based on the site visit and with reference to the inspection report (ref. file 2019-10-28-01), prepared by

Louise Coutu, architect, we estimate the overall physical depreciation of the building at 66%, taking into

account its general condition. This provides us with a depreciated building value of $76,000. Note that

this depreciation takes into consideration that the building is of standard quality, that several

components are at the end of their useful life and that several defects have been identified.

Additionally, at your request, we estimated the potential cost of the renovations at $116,000, subject to

validation by specialized contractors. This cost does not include some hypothetical work, as mentioned

on the previous page.

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3.2 CERTIFICATION

I certify that I:

Have personally visited the property being appraised on October 28, 2019.

Have not based my remuneration on a pre-determined conclusion of value.

Have researched, to the best of my ability, the information contained in this report.

Have no present or future interest in the properties covered by this appraisal report and no personal

relationship with respect to the parties involved.

Have not deliberately omitted or overlooked any material facts in connection with this appraisal.

Have conducted this appraisal in accordance with the rules of the Appraisal Institute of Canada's

Code of Professional Ethics.

I, the undersigned, Joëlle Thauvette, AACI P. App., on this 6TH day of December 2019, certify that to the

best of my knowledge, the information contained in this report including the analyses, opinions and

conclusions resulting therefrom is accurate, limited by the assumptions and reservations set out herein.

PARIS, LADOUCEUR & ASSOCIÉS INC.

Joëlle Thauvette AACI, P. App.

Professional Appraiser

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Appendix A - 1

Photographies prises le 28 octobre 2019, par Joëlle Thauvette, AACI. 628395E

Subject photographs

Living Room

Dining Room

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Appendix A - 2

PHOTOGRAPHIES DU SUJET (suite)

Photographies prises le 28 octobre 2019, par Joëlle Thauvette, AACI. 628395E

Bedroom – Ground Floor

Family Room

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Appendix A - 3

PHOTOGRAPHIES DU SUJET (suite)

Photographies prises le 28 octobre 2019, par Joëlle Thauvette, AACI. 628395E

Bathroom

Kitchen

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Appendix A - 4

PHOTOGRAPHIES DU SUJET (suite)

Photographies prises le 28 octobre 2019, par Joëlle Thauvette, AACI. 628395E

Bathroom

Bedroom

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Appendix A - 5

PHOTOGRAPHIES DU SUJET (suite)

Photographies prises le 28 octobre 2019, par Joëlle Thauvette, AACI. 628395E

Bedroom

Basement

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Appendix A - 6

PHOTOGRAPHIES DU SUJET (suite)

Photographies prises le 28 octobre 2019, par Joëlle Thauvette, AACI. 628395E

Basement (Finished Room)

Basement

Page 25: APPRAISAL REPORT 196, Coolbreeze Avenue Pointe-Claire (Quebec) · 628395E Appraisal Report - 196, Coolbreeze Avenue, Pointe-Claire (Quebec) 3 On the following pages, you will find

Appendix B - 1

Certificate of location

628395E

Page 26: APPRAISAL REPORT 196, Coolbreeze Avenue Pointe-Claire (Quebec) · 628395E Appraisal Report - 196, Coolbreeze Avenue, Pointe-Claire (Quebec) 3 On the following pages, you will find

Appendix C - 1

Professional Qualifications

628395E

QUALIFICATIONS DE JOËLLE THAUVETTE, A.A.C.I

Fiche académique

2008 Université du Québec à Montréal

Certificat en immobilier

2006 Université du Québec à Montréal

BAC en Design de l’environnement (concentration architecture)

2002 Collège Montmorency

DEC en Arts

Expérience professionnelle

2019 à ce jour Évaluateur immobilier professionnel pour la firme Paris, Ladouceur & Associés

inc. (évaluation aux fins de financement hypothécaire et reprise de finance)

2016 à 2018 Évaluateur agréé pour la firme Paris, Ladouceur & Associés inc. (évaluation aux

fins de financement hypothécaire et reprise de finance)

2012 à 2015 Évaluateur agréé pour la firme Paris, Ladouceur & Associés inc. (évaluation,

recherche et analyse aux fins d’expropriation).

2010 à 2011 Évaluateur stagiaire pour la firme Paris, Ladouceur & Associés inc. (évaluation,

recherche et analyse aux fins d’expropriation).

Association professionnelle

Membre de l’Institut canadien des évaluateurs

Perfectionnement

Notions de base et application de la méthode du revenu

Notions de base et application de la méthode de comparaison

Notions de base et application de la méthode du coût


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